Thursday, March 09, 2017 5:24:44 PM
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"Item 1.01 Entry into a Material Definitive Agreement
On March 3, 2017, MGT Capital Investments, Inc., a Delaware corporation (“MGT”) and Future Tense Systems Inc., a Colorado corporation (“Future Tense”) entered into the Demonsaw LLC Membership Interest Purchase Agreement (the “Purchase Agreement”). Pursuant to the Purchase Agreement, Future Tense sold its 46% membership interest in Demonsaw, LLC, a Delaware limited liability company for 2,000,000 unregistered shares of MGT’s common stock. Janice Dyson, the wife of MGT’s Chairman and Chief Executive Officer John McAfee, is the sole director and one-third equity owner of Future Tense.
The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
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