EESX - volume & news - ipo
Eastern Exploration Corporation Signs Letter of Intent to Acquire Assets of MAX Entertainment Group SA
VANCOUVER, BRITISH COLUMBIA, May 18, 2007 (Canada NewsWire via COMTEX) -- Eastern Exploration Corporation (OTCBB:EESX) ("Eastern"), a mineral exploration company, announced today that on May 17, 2007 it signed a Letter of Intent to purchase certain assets of MAX Entertainment Group SA ("MAX") of Switzerland in an all-stock transaction.
Pursuant to the contemplated transaction, Eastern anticipates that it will, subject to the closing, acquire from MAX its intellectual property, the rights to market MAX's entertainment and sporting programs in certain European countries, and the trade-marks, trade names, goodwill, contracts, and business associated with these assets (the "Acquired Assets"). In exchange for the Acquired Assets, Eastern shall issue to MAX and/or its shareholders, between 13 and 15 million shares of restricted common stock of Eastern, the final such number to be determined by negotiations between the parties. Eastern will also grant to MAX exclusive licenses to use the Acquired Assets and will assume certain liabilities of MAX.
The contemplated agreement is subject to due diligence being completed to the satisfaction of both Eastern and MAX and to the parties entering into a definitive agreement setting out the full terms of the acquisition. The Letter of Intent may be terminated on 30 day notice by either party.
About MAX
MAX is a Swiss Corporation engaged in the business of promoting and staging Ultimate Fighting-Style Events in Europe. For more information on MAX, interested parties can visit its website, www.maxfighters.com.
...
News 
Market Data 
Discover 
