Brief: Element To Acquire Harmonychain AS For Commercialization Of Blockchain

Univid ASA

03/12/2020 15:35

Dec 3 (Reuters) - Element ASA  ELEE.OL :
    * ELEMENT TO ACQUIRE HARMONYCHAIN AS FOR COMMERCIALIZATION OF BLOCKCHAIN
    * ENTERS INTO A LETTER OF INTENT (LOI) TO ACQUIRE HARMONYCHAIN AS
    * CONSIDERATION TO BE PAID FOR 100% OF HARMONYCHAIN IS 51 MILLION ELEMENT SHARES AND 10
MILLION
WARRANTS
    * WARRANTS WILL HAVE A STRIKE PRICE OF NOK 10,0 PER WARRANT
    * SIGNING OF A LEGAL BINDING SHARE EXCHANGE AGREEMENT (SEA) IS CONDITIONAL UPON, AMONG OTHER
THINGS, COMPLETION OF A DUE DILIGENCE, SUCCESSFUL NEGOTIATION AND SIGNING OF SEA, AND APPROVAL
BY HARMONYCHAIN SHAREHOLDERS
    * PARTIES EXPECT TO ENTER INTO SEA IN DECEMBER 2020
    * LOI STATES CO SHALL CARRY OUT DIVIDEND IN KIND TO ITS SHAREHOLDERS AFTER ACQUISITION AND
OFFERING OF ALL OR SOME OF ITS SECURITIES AND/OR RIGHTS RELATED TO ITS INVESTMENTS IN DIGITAL
AND BLOCK-CHAIN SECTOR

Source text for Eikon:  ID:nObijNzW5a 
Further company coverage:  ELEE.OL 

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