Sceptre Ventures Announces Signing of Term Sheet with IZON Network Inc. for Proposed Qualifying Transaction

About this update from Sceptre Ventures, Inc.

[{"type":"text","content":"Sceptre Ventures Announces Signing of Term Sheet with IZON Network Inc. for Proposed Qualifying Transaction(via TheNewswire)\n\n \nVancouver, BC - The Newswire - January 9, 2020: Sceptre Ventures Inc. (the \"Company\") (TSXV:SVP.H) is pleased to announce it has entered into a non-binding term sheet December 23, 2019 (the \"Term Sheet\") with IZON Network Inc. (OTC: IZNN), also known as IZON Digital Media Network (\"IZON\") pursuant to which Sceptre proposes to acquire a 100% interest in IZON. IZON creates proprietary media & entertainment platforms for premium & niche marketplaces which reach digital out-of-home audiences. \n\n\n \n\"Sceptre is very pleased with the signing of the Term Sheet with IZON for both parties' benefit. After looking at multiple opportunities in which to utilize our CPC it became apparent that IZON Digital Media Network was a growth trajectory company that we wanted to partner and do a transaction with. We are looking forward to finalizing the qualifying transaction and years of success for IZON.\" said Mitchell Smith, President and CEO, Sceptre Ventures Inc.\n\n\n \nSceptre is a \"capital pool company\" under the policies of the TSX Venture Exchange (the \"Exchange\"). The acquisition of IZON will constitute Sceptre's \"qualifying transaction\" under the policies of the Exchange (the \"Qualifying Transaction\"). Upon completion of the Qualifying Transaction, Sceptre will be listed as a Tier 2 Technology Issuer pursuant to the initial listing requirements of the Exchange.\n\n\n \nThe Qualifying Transaction is not a Non-Arm's Length Qualifying Transaction as defined under the policies of the Exchange, and approval from the shareholders of Sceptre is not required.\n\n\n \nThe Qualifying Transaction\n\n\n \nPursuant to the terms of the Term Sheet, it is expected that Sceptre and IZON will negotiate and enter into a definitive agreement incorporating the principal terms of the Term Sheet.\n\n\n \nSubject to any Exchange, regulatory, or other approvals that may be required, the completion of satisfactory due diligence by Sceptre and IZON, the completion of the IZON Financing (as described below) and the satisfaction of other conditions contained within the Term Sheet, it is currently anticipated that as consideration for the acquisition of all of the outstanding securities of IZON, holders of issued a...

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