Aquasearch has entered a letter of intent...

Aquasearch has entered a letter of intent to form a joint venture with Pecoff Bros. Nursery & Seed.

Aquasearch will receive a 50.1% interest in the joint venture, to be known as Integrated Aquasearch Inc., and will contribute $1.73 million in cash, according to a Securities and Exchange Commission filing. Pecoff will contribute $868,260 worth of assets.

Aquasearch issued 500,000 of its shares to Pecoff in connection with the joint venture.