The stock and cash transaction is contingent upon certain conditions, including the successful registration of the shares to be issued to Impex. Either party has a right to terminate the agreement if the closing has not occurred by September 30th 2006.
Nitches distributes women's specialty apparel by Adobe Rose, Saguaro and Southwest Canyon, Newport Blue men's casual lifestyle clothing, Dockers men's swimwear and t-shirts, golf apparel by The Skins Game, and women's sleepwear and loungewear by Body Drama. It also develops and manufactures private label products for many leading department stores and multi-channel retailers.
Nitches Inc has been designing and marketing quality apparel for niche markets since 1971. It is headquartered in San Diego, California with offices in Los Angeles, New York City, Hong Kong and Istanbul. Its shares are traded on the NASDAQ Capital Market under the symbol NICH.