GCAL is a New York gemological laboratory founded in 2001 by diamond industry veteran Don Palmieri and his wife, Pamela. Don is also the president of GCAL.
Mainboard-listed Sarine Technologies has signed a non-binding memorandum of understanding (MOU) to purchase a majority share in Gem Certification & Assurance Lab, Inc (GCAL) for an all-cash consideration.
The purchase is subject to due diligence reviews, as well as reaching and executing a definitive agreement. It will not fall under the definition of a “major transaction” under the Singapore Exchange’s (SGX) listing rules.
