Coffeeshop operator Kimly has entered into the cleaning services industry through the acquisition of a 60% stake in Klovex for a consideration of $1 million.

The sale and purchase agreement was signed on April 1 by Kimly’s wholly-owned subsidiary Chodee Food Holdings.

The consideration will be partly satisfied by cash of $700,000, and partly by the issuance of 1 million new shares in the capital of Kimly at the issue price of 30 cents per share.

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