Brief: Challenger Mobile Signs LoI To Buy Gaming Company

Safe Lane Gaming AB (publ)

16/07/2020 09:33

July 16 (Reuters) - Challenger Mobile AB (publ)  CHALb.TE : 
    * SAID ON WEDNESDAY HAS SIGNED A LETTER OF INTENT REGARDING
THE
ACQUISITION OF A GAMING COMPANY
    * SELLER IS TO TRANSFER 100% OF THE SHARES IN THE GAMING
COMPANY,
TOGETHER WITH ALL ASSETS RELATED TO THE GAME, TO CHALLENGER
MOBILE AGAINST PAYMENT OF A NOMINAL AMOUNT OF SEK 180 MILLION
    * THE PARTIES' GOAL IS FOR THE TRANSACTION TO BE COMPLETED
BEFORE
AUG 31, 2020
    * SIMULTANEOUSLY WITH THE COMPLETION OF THE REVERSE
ACQUISITION,
THE ASSETS/OPERATIONS/EMPLOYEES IN CHALLENGER MOBILE'S EXISTING
OPERATIONS WILL BE TRANSFERRED TO CHALLENGER'S MOBILE'S
SUBSIDIARY CHALLENGER MOBILE TECHNOLOGY 
    * AS A RESULT OF THE TRANSACTION, A NEW LISTING PROCESS FOR
CHALLENGER MOBILE IS REQUIRED ON THE SPOTLIGHT STOCK MARKET,
    * SPOTLIGHT STOCK MARKET MUST FIRST APPROVE CHALLENGER
MOBILE'S
NEW BUSINESS, I.E. AFTER THE ACQUISITION, FOR CONTINUED LISTING

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr25hqb
 Further company coverage:  CHALb.TE  

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