The LOI sets forth the proposed terms and conditions pursuant to which the Company and GOe3 intend to effect a business combination, as a result of which GOe3 will conduct business as a wholly-owned subsidiary of the Company (“Proposed Transaction”). The Company anticipates that the Proposed Transaction will be structured as a share-for-share exchange, with the Company’s shareholders retaining 30% and GOe3 receiving 70% of the combined Company. The Company will designate a new preferred stock to issue to the GOe3 members in exchange for the membership units. At Closing,
“This is an exciting and important time at the Company,” stated
The Proposed Transaction has been approved by the Board of Directors of the Company and the Managing Members of GOe3 and is expected to close in the first quarter of CY 2024. The Transaction will be considered a “reverse merger” because the members of GOe3 will own more than a majority of the outstanding common stock of the Company following completion of the Proposed Transaction.
About
The GoE3 Platform includes:
● | GOe3’s Unique, Universal 50+ kW Combination Level 2/3 E³EV Charging Station | |
● | GOe3 Integrated Solar Deployment | |
● | GOe3 Travel Phone App and Integrated Business/Consumer Portals |
Highlights:
● | Multiple patents pending, including networking charging stations; | |
● | Ability to charge any EV manufactured at the fastest possible rate (CHAdeMO, SAE quick charge when available, J1772, and Tesla supported); | |
● | Proprietary advertising/coupon portal supports geo-targeted marketing for surrounding businesses, creating exponential revenue potential; and | |
● | Phone App/Business Portal capitalizes on industry unique features to generate revenue e.g. hotel booking commissions, coupon revenue, business services revenue, user friendly data mining, sponsorships, and more. |
Additional information about the GOe3 can be found at www.goe3.com.
About
Contact:
(973) 233-5151
info@globaltechnologiesltd.info
Source:
2024 GlobeNewswire, Inc., source