Romana Food Brands Corp. (OTCPK:RFBC) signed a letter of intent to acquire Michelis Egidio SNC di Michelis C.M.M. on January 16, 2018. Michelis Egidio SNC di Michelis C.M.M. generates annual revenues of $19 million. According to the letter of intent, Romana Food Brands Corp. will proceed with a formal due-diligence, and expects to sign a definitive agreement within February 2018. As of Feb 21, 2018, Romana Food’s Board of Directors completed the due diligence for Michelis Egidio SNC and they have instructed senior management to perform a final visit in the month of March to meet all of the employees and management of Michelis. The transactions is expected to close on or before April 30, 2018. Romana Food Brands Corp. (OTCPK:RFBC) cancelled the acquisition of Michelis Egidio SNC di Michelis C.M.M. on January 16, 2019.