As of May 27, 2015, Cullen Agricultural Holding Corp. was acquired by Long Island Iced Tea Corp. Cullen Agricultural Holding Corp. provides development, adaption, and implementation of grazing-based farming systems primarily in the southeastern United States. The company intends to produce raw milk for the liquid market in the Eastern Seaboard utilizing the farmland; and to sell livestock. It also intends to offer a range of farm management and technology services, such as forage techniques, and genetics and feed management strategies designed to help improve the productivity and profitability of food animal production. The company focuses on serving agricultural companies, including produce...
1193 Seven Oaks Road
Waynseboro, GA 30830
Founded in 2009
Cullen Agricultural Holding Corp. Enters into Agreement with Long Island Brand Beverages to Extend the Maturity Date of Three LIBB Promissory Notes
Mar 9 15
On March 4, 2015, Cullen Agricultural Holding Corp. entered into an agreement with Long Island Brand Beverages, LLC, pursuant to which Cullen agreed to extend the maturity date of three LIBB promissory notes from March 15, 2015 until March 15, 2016. The promissory notes were issued by LIBB on November 19, 2013, December 5, 2013 and April 1, 2014, in the amounts of $600,000, $600,000 and $300,000, respectively, and bear interest at 6% per annum. Cullen is party to an Agreement and Plan of Reorganization with Long Island Iced Tea Corp, Cullen Merger Sub Inc., LIBB Acquisition Sub, LLC, LIBB and Phil Thomas and Thomas Panza, each a member of LIBB. Pursuant to the merger agreement, among other things, parent merger Sub will merge with and into Cullen, with Cullen surviving as a wholly owned subsidiary of Holdco and with Cullen's stockholders receiving newly issued shares of Holdco common stock, and LIBB Merger Sub will merge with and into LIBB, with LIBB surviving as a wholly owned subsidiary of Holdco and with the members of LIBB receiving newly issued shares of Holdco common stock.