Solaris Power Cells Inc (fka SPCL)

[Triforce]

Announced 05/23/16
Pixel Mags, Inc.
Merger/Acquisition

Solaris Power Cells, Inc. (OTCPK:SPCL) signed a share exchange agreement to acquire Pixel Mags, Inc. from VC2 Capital, Investment Arm and others on May 16, 2016. Under the terms of the agreement, Solaris will issue 1 million of series A convertible voting preferred stock, 10% original discount convertible note initially valued at $5 million and a five year warrant to purchase 500 million shares. The purchase note is due and payable on March 31, 2019. The warrant entitles the holder to purchase up to 500 million shares of Solaris at an exercise price equal to $0.01 per share, or a total of $5 million upon full exercise of the Warrant. The transaction has been approved by the majority of the stockholders of Solaris. The transaction is expected to close on or about May 31, 2016. CKR Law, LLP acted as the legal advisor for Pixel.

http://www.investing.businessweek.wallst.com/research/stocks/transactions/transactions.asp?ticker=SPCL