Freedom Holdings, Inc. (OTCPK:FHLD) signed a letter of intent to acquire Franks AI AB for $0.4 million on June 23, 2024. A cash consideration of $0.2 million will be paid by Freedom Holdings, Inc. The consideration consists of common equity of Freedom Holdings, Inc. having a value of $0.2 million to be issued for common equity of Franks AI AB. Freedom Holdings, Inc. (OTCPK:FHLD) shall promptly make its information and personnel available for the Buyer's due diligence review to be completed by July 15, 2024 and shall promptly prepare and deliver draft agreement.

The parties shall seek approval for the acquisition based on the definitive agreement and the final forms of the other transaction documents from their respective boards or other governing bodies o0r persons no later than July 15, 2024. The buyer and the company shall execute definitive agreement no later than July 15, 2024 subject to satisfaction of the closing conditions in the definitive documentation, The parties shall close the acquisition.