Influencers Interactive Inc. cancelled the acquisition of Pike Mountain Minerals Inc. in a reverse merger transaction.
December 13, 2019
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Influencers Interactive Inc. entered into a non-binding letter of intent to acquire Pike Mountain Minerals Inc. (CNSX:PIKE) in a reverse merger transaction on October 10, 2019. The agreement contemplates that Pike will consolidate its shares on a 2.55 old shares for 1 new share basis. Pike Mountain will issue up to a maximum of 73.2 million common shares (post-consolidated) to Influencers Interactive. In connection with the proposed acquisition, the resulting issuer will delist from the Canadian Stock Exchange and apply to list its shares on the TSX Venture Exchange. The agreement contemplates that, upon the successful closing of the proposed acquisition, Pike's Board of Directors will be restructured to be comprised of nominees of Influencers Interactive.
Transaction is subject to the negotiation and execution of a definitive agreement, completion of satisfactory due diligence by e ach of Pike and Influencers Interactive, completion of the share consolidation, completion of a brokered private placement financing for aggregate gross proceeds of up to CAD 18 million, receipt of all required regulatory, corporate, shareholder and third party approvals, including approvals by the Canadian Stock Exchange, the TSX Venture Exchange, applicable governmental authorities, and the fulfillment of all applicable regulatory requirements and conditions necessary to complete the proposed acquisition.
Influencers Interactive Inc. cancelled the acquisition of Pike Mountain Minerals Inc. (CNSX:PIKE) in a reverse merger transaction on December 13, 2019. A definitive agreement was not executed.
i3 Interactive Inc. is engaged in the business of providing customers with an online and mobile gaming platform, which provides sports fans worldwide with an engaging social gaming product, and sports betting and casino product offering. The Company operates in three geographical jurisdictions: India, Canada, and the United States. The Company operates through brands and platforms, including Blitzbet, Blitzpoker, and Blitzpools. Blitzbet is an online sports book and casino brand operated by the Companyâs subsidiary, Deluxe Crown B.V., under a master license granted by Curacao. The Company operates Blitzpoker through its subsidiaries in India, Redrush Online Private Limited and Esperanza Gaming Private Limited. Blitzpoker is an online poker platform, which provides residents of certain Indian states with free to play poker games, as well as pay to play poker games. Blitzpools is an online fantasy platform available on Android, iOS, and desktop.