Brief: Trueclaim Exploration Enters Into Definitive Agreement With New Wave Esports

Humanoid Global Holdings

18/06/2019 09:19

June 18 (Reuters) - Trueclaim Exploration Inc  TRM.V :
    * ENTERS INTO DEFINITIVE AGREEMENT WITH NEW WAVE ESPORTS
CORP.
    * CO TO ACQUIRE ALL SHARES OF NEW WAVE ESPORTS BY
THREE-CORNERED
AMALGAMATION BETWEEN CO, NEW WAVE ESPORTS , SUBCO
    * WITH TRANSACTION, CO TO CONSOLIDATE ITS COMMON SHARES ON A
1.5:1
BASIS, CHANGE ITS NAME TO "NEW WAVE ESPORTS CORP
    * TRUECLAIM EXPLORATION- LEADERSHIP TEAM OF RESULTING ISSUER
IS
EXPECTED TO CONSIST OF TRUMBULL FISHER AS PRESIDENT; TIFFANY LEE
AS CHIEF FINANCIAL OFFICER
    * TRANSACTION BEING COMPLETED BY SEPTEMBER 30, 2019
    * BOARD OF DIRECTORS OF RESULTING ISSUER WILL CONSIST OF UP
TO 5
MEMBERS
    * AGREEMENT PROVIDES FOR TERMINATION RIGHTS, INCLUDING IN
EVENT
TRANSACTION IS NOT COMPLETED BY SEPTEMBER 30, 2019
    * TRUECLAIM SHARES WILL REMAIN HALTED PENDING COMPLETION OR
TERMINATION OF TRANSACTION
    * TRUECLAIM- WITH DEAL NEW WAVE ESPORTS SHAREHOLDERS TO GET
CO'S
SHARES ON BASIS OF 1 POST-CONSOLIDATION TRUECLAIM SHARE FOR EACH
NEW WAVE ESPORTS SHARE
    * TRUECLAIM EXPLORATION - TRUECLAIM SHARES WILL BE ISSUED AT
A
DEEMED POST-CONSOLIDATION PRICE OF $0.15 PER TRUECLAIM SHARE TO
NEW WAVE ESPORTS SHAREHOLDERS
    * IS EXPECTED TO DELIST TRUECLAIM SHARES FROM TSX VENTURE
EXCHANGE
("TSXV")

Source text for Eikon:  ID:nCNWRT4s5a 
Further company coverage:  TRM.V 

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