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ICOA Signs LOI for 185 Million Acquisition of IBG Finance
ICOA Signs LOI for 185 Million Acquisition of IBG Finance.
About this update from Icoa, Inc.
[{"type":"text","content":"\n Las Vegas, Nevada, Oct. 01, 2021 (GLOBE NEWSWIRE) -- ICOA Inc. (OTC PINK: ICOA) (“ICOA” or the “Company”) a publicly traded Nevada company and a national provider of wireless and wired broadband Internet networks in high-traffic public locations currently entering the DeFi, Blockchain and Crypto Space through multiple acquisitions, announces it has executed a Letter of Intent (“LOI”) to acquire iBG Finance, the World’s 1st and only insured (POSI: Public Offering Security Insurance) - DeFi project, in a transaction valued at USD 185,000,000. Launched in September of 2020, iBG is a Decentralized Finance (DeFi) wealth management platform designed to bring simplicity to users interested in entering the cryptocurrency and the DeFi market. iBG is equipped with the latest Robo Advisory technology to offer algorithm-driven recommendations. The iBG App is a smart yield aggregator platform, providing an intuitive user experience to make it easy for all users to benefit from their digital tokens/cryptocurrencies. The App is offered as a customized recommendation engine by simplifying user experience to provide non-tech savvy users a way to interact with various crypto and DeFi assets that are built on blockchains. In traditional finance and portfolio management, you can get obtain advice and use automated platforms to enrich your trading strategies. iBG takes these principles and applies them in the cryptocurrency markets with advanced Al technology solutions. The LOI executed by ICOA and iBG outlines the terms of the transaction, which is valued at USD 185 Million and anticipated to close within 60 days. As part of the acquisition, ICOA will be acquiring 100% of iBG Finance in return for restricted preferred shares of ICOA. Aneesha Reihana, CEO and Co-Founder of iBG said “Decentralized Finance is becoming increasingly pivotal to the overall Crypto Market and has doubled its market share since 2020. iBG Finance is proud to be part of an industry that has grown to $80 Billion in 2021. Our merger with ICOA could not have come at a better time. We expect this milestone will open new markets and opportunities for us moving forward” George Strouthopoulos, Chief Executive Officer of ICOA, Inc. added “ICOA’s mission statement has always been to be a player in the digital landsca...