ICF Industries in Van Nuys has entered into a consulting agreement with Agri-Dynamics Inc., ana sustainable farming company in New York that focuses on hemp production for CBD.
Under the terms of the deal, ICF will receive 50 million common shares in Agri-Dynamics, which is publicly traded with the ticker “AGDY” on the over-the-counter market. Shares are currently trading at $0.014, giving ICF’s stake a value of approximately $700,000. ICF said in a statement it has already received 30 million shares. Another 10 million shares will be paid on both the first and second anniversary dates of the agreement.
ICF, a subsidiary of Here to Serve Holding Corp., is a distributor of industrial and construction products including stuccoes, plasters, concretes and more. It also has consulting and sales lines of business.
Here to Serve Chief Executive Paul Riss said in a statement ICF plans to use its executive industries division, which offers corporate advisory and marketing services, to help Agri-Dynamics achieve “pink sheets current status, as we recently did for a CBD company.”
“We anticipate we will be helping them structure deals through our many contacts and skill sets relevant to their business model,” Riss added. “As the asset value increases as the result of this joint effort, so does HTSC’s intrinsic value.”