Nexus Energy Services Inc (IBGR)

[Roofus]

Can someone please verify the recap of the merger

For all those newbies out there that want to know:
(please verify that this is correct for the newbies, thanks)

1.) Deal is Done (merger is closed) (official reverse merger)
2.) 140 million O/S remains
3.) 25 million common shares will be issued, bringing the new O/S count up to 165 million
4.) Current shareholders will get a 1:1 ratio for their shares
5.) Ticker change from "IBGR" to "DRYW" (for DryWorld)


Transaction Summary:
Upon closing, the Company will issue 25 million common shares, and 850 series E preferred shares to DRYWORLD in exchange for 100% of the issued and outstanding shares and assets of DRYWORLD. The Transaction is not a non arms-length transaction under applicable securities rules. No deposit or advance has been made or is anticipated to be made by the Company to DRYWORLD in connection with the Transaction. The Company currently has 140,342,956 common shares issued and outstanding, as well as 10,000 series D preferred shares, which are being transferred from the current management to DRYWORLD. The Transaction is subject to a number of terms and conditions, including but not limited to receipt of all necessary Board, shareholder and any regulatory approvals.