Munaf Ali closed on the purchase of TCRI in late July 2021, and BitZERO made this announcement around the same time...
BitZERO Blockchain Inc. ("BitZERO"), a company focused on developing renewable hydroelectric energy that is ESG compliant for high performance computing and data centres in Europe and elsewhere, and 1169032 B.C. LTD. (the "Company" or "1169032") are pleased to announce they have entered into a letter of intent (the "LOI") to complete a business combination by way of a transaction that will constitute a reverse takeover of the Company by BitZERO (the "Transaction").
Under the terms of the LOI, it is currently anticipated that the Transaction will be effected by way of a three-cornered amalgamation, share exchange, merger, amalgamation, arrangement or other similar form of transaction as is acceptable to the parties. The final structure of the Transaction is subject to receipt by the parties of tax, corporate, and securities law advice.
The Company is a "reporting issuer" under the securities laws of the Provinces of British Columbia and Alberta but is not listed on any stock exchange.
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