Business
Duckworth Capital Corp. Announces Proposed Acquisition of Goldspot Discoveries Inc.
Halifax, Nova Scotia--(Newsfile Corp. - April 12, 2018) - Duckworth Capital Corp., (TSXV: DUKE...
About this update from Earthlabs Inc
[{"type":"text","content":"Duckworth Capital Corp. Announces Proposed Acquisition of Goldspot Discoveries Inc.Halifax, Nova Scotia--(Newsfile Corp. - April 12, 2018) - Duckworth Capital Corp., (TSXV: DUKE.P) a capital pool company listed on the TSX Venture Exchange, announced that it has today signed a letter of intent to acquire the shares of Goldspot Discoveries Inc. (\"Goldspot\"). Goldspot is an Ontario-based company that leverages machine learning to reduce capital risk, while working to increase efficiencies and success rates in resource exploration and investment. The company combines proprietary technology with traditional domain expertise, offering a front-to-back service solution to its partners. Goldspot solutions target big data problems making full use of historically unutilized data to gain deeper understanding of resource property potential. Goldspot has developed a monetization strategy into multiple verticals of the mining and investment industry including service offerings, staking and royalty acquisition and the development of its own A.I. driven trading platform.The arms-length acquisition is intended to serve as Duckworth's \"qualifying transaction\" pursuant to the policies of the TSX Venture Exchange and is subject to the approval of the TSX Venture Exchange. Management of Duckworth expects that trading in Duckworth shares will remain halted until after a definitive agreement is signed and additional information is provided to the TSX Venture Exchange. Duckworth will provide further details on the proposed acquisition once the information is available. Completion of the qualifying transaction is subject to a number of conditions, including but not limited to, completion of a definitive agreement, TSX Venture Exchange acceptance, due diligence, financing and, if applicable pursuant to TSX Venture Exchange requirements, majority of the minority shareholder approval. Where applicable, the qualifying transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.Duckworth Capital Corp.Duckworth is a capital pool company listed on the TSX Venture Exchange. Its principal business is the identification and evaluation of assets or businesses with a view to completing a qualifying transaction. Duckworth has not commenced commercial oper...