Harris Ventures, Inc. made an unsolicited offer to acquire operating assets of five branch locations from Labor Smart, Inc. for $1.03 million.

Harris Ventures, Inc. made an unsolicited offer to acquire operating assets of five branch locations from Labor Smart, Inc. (OTCPK:LTNC) for $1.03 million on July 31, 2015. Harris Ventures, Inc. entered into a definitive agreement to acquire the operating assets of five specific branch locations from Labor Smart, Inc. (OTCPK:LTNC) on August 5, 2015. In addition, under the terms of the purchase agreement, Labor SMART will retain the open accounts receivable at the sold branches, totaling $811,081.

The transaction is expected to complete on close of business as on August 12, 2015. Joseph A. Probasco of Bush Ross, P.A. acted as legal advisor for Harris Ventures.