Novagen Solar Inc. signed a definitive agreement to acquire Omanson Precision Engineering, Inc. from Judith A. Omanson and Dwight A. Omanson for $0.83 million.

Novagen Solar Inc. (OTCBB:NOVZ) signed a definitive agreement to acquire Omanson Precision Engineering, Inc. from Judith A. Omanson and Dwight A. Omanson for $0.83 million in cash and stock on October 9, 2012. Under the terms of the agreement, consideration will be paid as $0.75 million in cash and 0.2 million shares of Novagen. The deal has been approved by the Board of Directors of Novagen Solar.

The transaction is expected to be closed on before December 19, 2012.