Brief: PunkPirates Signs LOI With Seed Capital On Buying 100% Stake Of Seed Capital

Grupa Virtus SA

02/02/2023 10:01

Feb 2 (Reuters) - Punkpirates SA  PUNP.WA :
    * SIGNS LETTER OF INTENT (LOI) WITH SEED CAPITAL ON PURCHASE
OF
100% STAKE OF SEED CAPITAL
    * PARTIES TO SET OUT TERM SHEET BY FEB 14
    * SEED CAPITAL IS ENTITY IMPLEMENTING RENEWABLE ENERGY
PROJECTS
WITH TOTAL CAPACITY EXCEEDING 1.5 GWP
    * IT WILL PAY 1.5 MILLION ZLOTYS FOR SEED CAPITAL WHILE
OFFERING
SEED CAPITAL SHAREHOLDERS WARRANTS FOR 15 MILLION COMPANY SHARES
AT 0.10 ZLOTY EACH
    * PURCHASE PRICE OF SHARES IN SEED CAPITAL WILL BE
COMPENSATED
WITH AMOUNT OF 1.5 MILLION ZLOTYS FOR WHICH SHAREHOLDERS OF SEED
CAPITAL WILL TAKE UP PUNKPIRATES SHARES
    * LOI STIPULATES OFFERING ADDITIONAL WARRANTS OR REVERSING
TRANSACTION DEPENDENT ON SEED CAPITAL EBITDA PERFORMANCE

Source text for Eikon:  ID:nEM6VMfk4a 
Further company coverage:  PUNP.WA 
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