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Globalive Technology Announces Agreement with Yooma Corp. to Complete a Reverse Takeover Transaction Concurrently with Previously Announced Transaction with Socati Corp.
Globalive Technology Announces Agreement with Yooma Corp. to Complete a Reverse Takeover T...
About this update from Live Energy Minerals Corp
[{"type":"text","content":"\n\n\n\nGlobalive Technology Announces Agreement with Yooma Corp. to Complete a Reverse Takeover Transaction Concurrently with Previously Announced Transaction with Socati Corp.\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, July 13, 2020\n\n\n\nGlobalive Technology today announced that it has signed a binding letter agreement to complete a reverse takeover transaction with Yooma Corp., an Asia-focused social commerce company with operations in China and Japan to complement the recently announced transaction with vertically-integrated Socati Corp. \n TORONTO, July 13, 2020 /CNW/ - Globalive Technology Inc. (TSXV: LIVE) (the \"Company\"), a technology company based in Toronto, Ontario, announced today that it has signed a binding letter of intent (the \"LOI\") with Yooma Corp. (\"Yooma\") dated July 13, 2020 to complete an arm's length reverse take-over pursuant to which the Company will acquire all of the issued and outstanding securities of Yooma in exchange for common shares of the Company (the \"Yooma Transaction\"). The Yooma Transaction and the previously announced transaction (the \"Socati RTO\", or together with the Yooma Transaction, the \"Transaction\") with Socati Corp. (\"Socati\") are expected to close contemporaneously with the resulting issuer (the \"Resulting Issuer\") continuing under such name as Socati may reasonably determine, subject to the satisfaction and/or waiver of all required conditions precedent, including consents and approvals from regulators and shareholders. \nAbout Yooma \nYooma is a private corporation, incorporated under the laws of the Province of Ontario in 2019, with its corporate headquarters in Toronto, Ontario. Through its wholly-owned subsidiary, Entertainment Direct Asia Ltd. (\"EDA\"), and EDA-owned entities based in China and Japan, management of Yooma intends to leverage the success and experience of its senior managers to build Yooma's business into one of Asia's leading cannabinoid (CBD) products social commerce companies through the distribution and sale of CBD beauty and skincare products...