Saturday, July 23, 2022 9:45:09 PM
06/29/2022 EDT
bowmo, Inc. entered into an agreement to acquire Cruzani, Inc. (OTCPK:CZNI) in a reverse merger transaction on May 4, 2022. Each issued and outstanding share of the common stock of Bowmo will be converted into 1 share of Series G Preferred Stock, $0.001 par value, of Cruzani including but not limited to: (i) aggregate voting rights that, after giving effect to the Merger, shall equal 78% of the total shareholder votes of the Cruzani when voting together with all of the other issued and outstanding shares of Cruzani (common and preferred); and (ii) conversion rights into common stock of Cruzani equal to the voting rights of the Cruzani Series G Preferred Stock. As a result of the Merger, Cruzani will be the sole shareholder of Bowmo and Bowmo shareholders will become majority shareholders of Cruzani. The transaction is subject to the approval of Bowmo, Inc shareholders, the filings of parties pursuant to the HSR Act, if any, shall have been made and the applicable waiting period and any extensions thereof shall have expired or been terminated and Cruzani shall have not more than $500,000.00 of Liabilities. The agreement has been unanimously approved by both parties board. bowmo, Inc. completed the acquisition of Cruzani, Inc. (OTCPK:CZNI) in a reverse merger transaction June 29, 2022.
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