Business
Globalive Technology Announces Agreement with Socati Corp. to Complete a Reverse Takeover Transaction
Globalive Technology Announces Agreement with Socati Corp. to Complete a Reverse Takeover ...
About this update from Live Energy Minerals Corp
[{"type":"text","content":"\n\n\n\nGlobalive Technology Announces Agreement with Socati Corp. to Complete a Reverse Takeover Transaction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 4, 2020\n\n\n\nGlobalive Technology today announced that it has signed a binding letter agreement to complete a reverse takeover transaction with Socati Corp., a US-based company that produces THC-free broad-spectrum hemp extracts for use in a variety of cannabinoid products. \n TORONTO, June 4, 2020 /CNW/ - Globalive Technology Inc. (TSX-V: LIVE) (the \"Company\"), a technology company based in Toronto, Ontario, announced today that it has signed a binding letter of intent (the \"LOI\") with Socati Corp. (\"Socati\") dated June 3, 2020 to complete a reverse takeover pursuant to which the Company will acquire all of the issued and outstanding securities of Socati in exchange for common shares of the Company (the \"RTO\"). \nAbout Socati \nSocati is a leading processor of THC-free broad-spectrum hemp extracts and ingredients for use in cannabinoid products. Leveraging investments in new technologies, Socati engages in large-scale manufacturing and has logistics in place to meet growing demand. With the ability to manufacture broad-spectrum hemp extracts at scale, Socati is built to serve the needs of large, international consumer packaged goods (CPG) companies that are seeking high quality raw materials.  \nSocati is a private corporation, incorporated under the laws of Delaware on August 28, 2018, with several wholly owned subsidiaries that together make up the Socati business. Its corporate headquarters is located in Austin, Texas, and it has significant assets in Woodburn, Oregon, where it operates a seed genetics, research and development and agricultural operations facility, and in Missoula, Montana, where it operates a 22,000 sq. ft. production facility and testing laboratory.  \nBeing in a growth phase of its business cycle, Socati is incurring significant expenses, which are partially offset by revenue from the operating portion of its business and capital ...