According to the latest filing by the U.S. Securities and Exchange Commission (SEC), the board of directors of Nutriband Inc. has officially terminated the agreement to sell its subsidiary to Earth Vision Bio.
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The termination was due to Earth Vision Bio's failure to pay the agreed-upon late fees. This decision was made after review by Nutriband's board of directors, marking the invalidation of the previously reached transaction arrangement due to the buyer's breach of contract. The company did not disclose the specific amount of the late fees or the subsequent handling plan in the announcement.
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