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Letter Of Intent to Purchase Business Template Free

Saturday, November 6th 2021. | Sample Templates

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Pioneer Announces Letter of Intent with NGMI Labs Inc. Pioneer Announces Letter of Intent with NGMI Labs Inc. VANCOUVER, British Columbia–(BUSINESS WIRE)–Pioneer Media Holdings Inc. (“Pioneer” or the “Company”) is pleased to announce it has entered into a non-binding letter of intent (“LOI”) with NGMI Labs Inc. (“NGMI”), a private British Columbia corporation, to acquire 100% of the issued and outstanding shares of NGMI (the “Acquisition”). VANCOUVER, British Columbia–(BUSINESS WIRE)–Pioneer Media Holdings Inc. (“Pioneer” or the “Company”) is pleased to announce it has entered into a non-binding letter of intent (“LOI”) with NGMI Labs Inc. (“NGMI”), a private British Columbia corporation, to acquire 100% of the issued and outstanding shares of NGMI (the “Acquisition”). The proposed acquisition advances Pioneer’s investments in “web3” and businesses in the NFT, NFT gaming and tokenized community sectors. The proposed acquisition advances Pioneer’s investments in “web3” and businesses in the NFT, NFT gaming and tokenized community sectors. Transaction Details Transaction Details Under the Acquisition, Pioneer will acquire 100% of the outstanding shares of NGMI for a total consideration of 4,000,000 common shares of Pioneer, to be distributed on a pro rata basis to the NGMI shareholders. Pioneer, NGMI and the NGMI shareholders are at arm’s length. Under the Acquisition, Pioneer will acquire 100% of the outstanding shares of NGMI for a total consideration of 4,000,000 common shares of Pioneer, to be distributed on a pro rata basis to the NGMI shareholders. Pioneer, NGMI and the NGMI shareholders are at arm’s length. Completion of the Acquisition is subject to standard conditions, including but not limited to the formalization of the Acquisition under a share purchase agreement, and the prior receipt of all requisite regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”). Pioneer will have a 45-day exclusivity period to conduct due diligence on NGMI. Concurrent with, and as a condition to, the completion of the Acquisition, Matthew Shaw, founder of NGMI, will join the board of directors of Pioneer. Completion of the Acquisition is subject to standard conditions, including but not limited to the formalization of the Acquisition under a share purchase agreement, and the prior receipt of all requisite regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”). Pioneer will have a 45-day exclusivity period to conduct due diligence on NGMI. Concurrent with, and as a condition to, the completion of the Acquisition, Matthew Shaw, founder of NGMI, will join the board of directors of Pioneer. About NGMI: About NGMI: Tokens and decentralized technology provide powerful new building blocks that empower communities to capitalize, govern and grow in ways that have never before been possible. DAO (Decentralized Autonomous Organization) tokens, and the emerging tools and platforms that support their operations, represent the most exciting sector of the web3 space, and NGMI has the access and talent to capitalize on the emerging trend. Tokens and decentralized technology provide powerful new building blocks that empower communities to capitalize, govern and grow in ways that have never before been possible. DAO (Decentralized Autonomous Organization) tokens, and the emerging tools and platforms that support their operations, represent the most exciting sector of the web3 space, and NGMI has the access and talent to capitalize on the emerging trend. “Our unique combination of hands-on operational experience (having launched and grown leading DAOs) and crypto capital markets experience, position us to bring broad mainstream support and capital to the emerging DAO ecosystem,” says Jess Sloss, co-founder of NGMI. “Our unique combination of hands-on operational experience (having launched and grown leading DAOs) and crypto capital markets experience, position us to bring broad mainstream support and capital to the emerging DAO ecosystem,” says Jess Sloss, co-founder of NGMI. NGMI was founded by Jess Sloss, Gregg Peacock and Matthew Shaw. Each of these individuals will continue to provide their services and expertise to Pioneer and NGMI following completion of the Acquisition, and Mr. Shaw will be appointed to Pioneer’s board of directors. NGMI was founded by Jess Sloss, Gregg Peacock and Matthew Shaw. Each of these individuals will continue to provide their services and expertise to Pioneer and NGMI following completion of the Acquisition, and Mr. Shaw will be appointed to Pioneer’s board of directors.