MOU is active as of June 2, 2021- contemplates a proposed transaction between the entities that provides for BFNH to acquire all of the assets controlled by ELGL.
Merger Cancellation
On July 14, 2020, BioForce Nanosciences Holdings, Inc. (BFNH) entered into Memorandum of Understanding ("MOU") with Element Global, Inc., a Utah Corporation which publicly trades under the symbol ELGL. BFNH intended to acquire 100% of ELGL, its subsidiaries and its assets on or before October 13, 2020.
On October 09, 2020, the Board of Directors at BioForce NanoSciences Holdings, Inc. cancelled and voided the July 14, 2020 "Memorandum of Understanding" (MOU) with Element Global, Inc. As a result of this action, BioForce Nanosciences Holdings, Inc.'s wholly-owned subsidiary, Element Acquisition Corporation, a Wyoming Corporation, accepted the resignation of Mr. Gagnon as its director, it dissolved the "Investment Committee "and removed its "Investment Committee members," Mr. LaViolette, Mr. Davis, Mr. Greenberg, Mr. Shapiro, Mr. Gagnon, and Mr. Scheffer.
Memorandum of Understanding ("MOU")
June 02, 2021, Bioforce Nanosciences Holdings, Inc. entered into another Memorandum of Understanding (MOU) with Element Global, Inc. (ELGL), a Utah Corporation. This MOU contemplates a proposed transaction between the entities that provides for BFNH to acquire all of the assets controlled by ELGL. The closing of the transaction is subject to due diligence and the execution of a definitive agreement.
