Basta Holdings Corp (OCTBB:BCTA) entered into a letter of intent to acquire 49% of Heli Jet S.A.S. on August 14, 2014. According to the letter, Basta Holdings, Corp will offer shares for 49% of its capital shares of Heli Jet S.A.S. According to the agreement, an initial payment to be set forth in the contract to be entered into by the parties shall be placed in escrow by Basta Holdings on or before August 31, 2014. The definitive written agreement is to be prepared by Basta Holdings within the next ninety days. The selling price shall be adjusted according to the working capital. The closing date shall be within one hundred and twenty calendar days of the execution of this letter of intent. This transaction is conditional to the following conditions: entering into the share purchase agreement, obtaining appropriate financing, procuring approval of competent regulatory authorities and conducting satisfactory due diligence in regards to legal, accounting, financial, technologic, and environmental matters, as well as other preliminary conditions. Basta Holdings Corp and Heli Jet S.A.S. also entered into an exclusivity agreement.

Basta Holdings Corp (OCTBB:BCTA) cancelled the acquisition of 49% of Heli Jet S.A.S. on August 14, 2015.