VANCOUVER, Nov. 13, 2018 /CNW/ - GoverMedia Plus Canada Corp. (CSE: MPLS) (FWB: 48G) (WKN: A2JF6W) ("GoverMedia" or the "Company"), is pleased to announce today that it has entered into a non-binding Letter of Intent (LOI) with EXMO, one of the largest European cryptocurrency exchanges. This LOI provides the Company with exclusivity in negotiating the transaction for a period of up to 180 days. Upon completion of the transaction, the combined entity will continue to carry on the business of EXMO.
Pursuant to the LOI, the parties have agreed to use their best efforts to formulate a structure for the proposed transaction that is envisioned to comply with all necessary legal and regulatory requirements, and be as cost effective as possible. It is anticipated that the final structure of the transaction will be defined by a definitive agreement between the Company and EXMO, and that such agreement will include representations, warranties and covenants typical for a transaction of similar nature to the proposed transaction as well as customary conditions precedent, including completion of due diligence and receipt of any required consents and approvals, including those of the CSE and shareholders of GoverMedia.
Roland J. Bopp, CEO of GoverMedia, commented "I am very pleased to announce the intended business combination with EXMO one of the largest European cryptocurrency exchanges. This is a further step in the Company's publicly announced strategic partnership. After the successful completion of the business combination, the company will have over 2.0 million active users and provides an excellent platform to further increase revenue and improve operating results in European, North American and Asian markets. This will be an important step for the Company as we progress toward our transformation into strong, leading global businesses with the scale and financial flexibility to drive long-term value creation."
Sergey Zhdanov, CEO of EXMO, commented "At EXMO, we see this combination as a perfect opportunity to strengthen our team and raise our influence on the universal cryptocurrency market. We are very excited about this partnership because it provides us deeper insights for decision-making purposes and brings our clients best infrastructure and maximum security. This combination will assist us to achieve one of our main targets: becoming one of the most credible and reliable businesses on the cryptomarket".
To read the full press release, please click here.
SOURCE GoverMedia Plus Canada Corp.
For further information: Roland J. Bopp, President and CEO, +1-888-672-4415