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PRAY .40x.50 Nice merger coming 6.9m

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$hellKing Member Level  Friday, 03/17/17 11:47:38 AM
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PRAY .40x.50 Nice merger coming 6.9m OS 86% held

On February 22, 2017, the Company entered into a Letter of Intent (“LOI”) with Arista Capital LTD. (“Arista”) whereby the shareholders of Arista will acquire eighty percent (80%) of the issued and outstanding shares of the Company. In consideration for the above, Arista will pay $75,000 and will assume all of the liabilities of the Company. This transaction is contingent upon the Company and Arista executing a formal “Merger Agreement” which is expected to occur on or about March 31, 2017. The closing of the transaction is expected to occur sixty (60) days from the execution of the Merger Agreement.

The LOI may be terminated by (a) mutual consent of the parties, (b) by the Company if (i) a definitive Merger Agreement is not executed and delivered by the parties, (ii) the Merger Agreement is enjoined by a court or any governmental body, or (iii) by Arista if they are not satisfied with the results of their due diligence investigation of the Company.

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