Via News Release
“SO. ST. PAUL, MN – May 9, 2011 – Digital Angel Corporation (OTCBB: DIGA), an advanced technology company in the field of animal identification and emergency identification solutions, announced today that it has entered into a definitive agreement with Allflex USA, Inc. to sell its animal identification business, Destron Fearing Corporation, for a purchase price of $25 million.
The cash deal is subject to the satisfaction of customary closing conditions, including approval by the holders of a majority of the outstanding shares of Digital Angel Corporation. Closing adjustments, payment of debt and accrued liabilities, escrowed funds and the value of assumed liabilities will reduce the proceeds received from this transaction.”