Logiq Inc (LGIQ)

[vegasvic]

AFTER HOURS NEWS, Hong Kong, May 28, 2015 -- Seratosa Inc. (OTCQB:STOA) ("Seratosa" or the "Company"), an e-commerce facilitator announces that it has signed a definitive acquisition agreement with a Singapore based Mobile Applications company, Technoprenuers Resource Centre Private Limited, (“TRC”) which does business under the brand name 'CreateApp'.

TRC, in it's fiscal year ending December 31, 2014, had audited revenues of SGD15.7 million and net income after tax of SGD3.5 million.

The terms of the acquisition are a share exchange of US$36 million of newly issued Seratosa shares in exchange for 100% of the shareholder interests of TRC.

TRC will become a wholly-owned subsidiary of the Company and be allowed to appoint two directors to the Company's Board of Directors, as well as place executives in senior management positions.

The transaction is estimated to close within ten business days following the date of this announcement.