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EncounterCare and iGambit Inc. Sign Letter of Intent for iGambit Inc. to Acquire Certain Assets of CyberCare Health Network Inc.
EncounterCare and iGambit Inc. Sign Letter of Intent for iGambit Inc. to Acquire Certain Assets of CyberCare Health Network Inc..
About this update from Cyberfuels Holding Company Inc.
[{"type":"text","content":"\n \n \n EncounterCare and iGambit Inc. Sign Letter of Intent for iGambit Inc. to Acquire Certain Assets of CyberCare Health Network Inc.\n \n \nEncounterCare and iGambit Inc. Sign Letter of Intent for iGambit Inc. to Acquire Certain Assets of CyberCare Health Network Inc.\n \n SMITHTOWN, NY--(Marketwired - Aug 15, 2016) - iGambit Inc. (OTCQB: IGMB) announced it has entered into a LOI with EncounterCare Solutions Inc. (OTC PINK: ECSL). Under the terms of the LOI, iGambit Inc. will buy certain assets of CyberCare Health Network, Inc. and will assume certain specifically identified liabilities. Payment for the acquisition will be made in the form of iGambit common stock which EncounterCare expects to disperse in the form of a dividend to existing EncounterCare stock holders of record at the closing of the transaction. \n iGambit Inc. and CyberCare Health Network, Inc. will collaborate in the preparation of a Asset Purchase Agreement. \n iGambit Inc. estimates a closing within 45-60 days from the signing of the Letter of Intent and the commencement of due diligence. iGambit Inc will use its best efforts to speed the transaction to a closing.\n The LOI has certain binding and non-binding obligations, and the transaction is subject to various conditions to closing, including satisfactory completion of due diligence, approval of the Company's shareholders, if required, and definitive documentation. A copy of the Form 8-K report may be accessed at www.sec.gov\n John Salerno, Chairman of iGambit, stated, \"We have looked hard and long for an opportunity like this. To be part of a $30 billion industry with an FDA approved product, dealing with an experienced and talented team. Our goal is to get significant market share and be a major player in the Wearable Monitoring business. In addition, we plan to license and exploit our intellectual property and patents.\" \n Ron Mills Sr., CEO of EncounterCare, stated, \"We have been working since January of this year to bring our new Wearable Monitoring and Back Office System into the marketplace. We have had the benefit of working with health industry experts as well as leading edge tech and design groups. CyberCare Health Network, Inc. is ready to roll out its new wearable healthcare line which will focus initially on the trucking industry a...