LifeBrandz in talks over a 'very substantial acquisition or RTO'

NIGHTCLUB operator LifeBrandz announced on Tuesday that it has entered into preliminary discussions with a third party, in connection with a "very substantial acquisition or reverse takeover".

"Discussions between the company and the third party are presently ongoing and, as at the date of this announcement, no definitive agreements have been entered into by the parties," said LifeBrandz.

As there is no certainty as yet that the proposed transaction will be completed, the company advised shareholders to exercise caution in trading its shares.