Business
SoLVBL Solutions Inc. Announces Letter of Intent to Acquire Darkhorse Films Limited, a Leading Vertically Integrated E-Commerce & Digital Film Making Studio for $10.15 Million
SoLVBL Solutions Inc. Announces Letter of Intent to Acquire Darkhorse Films Limited, a Leading Vertically Integrated E-Commerce & Digital Film Making Studio for $10.15 Million.
About this update from Solvbl Solutions Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - September 13, 2022) - SoLVBL Solutions Inc. (CSE: SOLV) (OTCQB: SOLBF) (\"SoLVBL\" or the \"Company\"), an innovative cybersecurity company that provides immutable data authentication using advanced cryptography on a SaaS based model, is pleased to announce that the Company has entered into a non-binding Letter of Intent (the \"LOI\") to acquire Darkhorse Films Limited (\"Darkhorse\"), a United Kingdom registered entertainment business (the \"Transaction\") on September 12, 2022. This Transaction forges a potentially lucrative revenue stream in the digital film, content production and distribution market for SoLVBL in the US, UK and Europe. The Company's Q by SoLVBLTM platform for data authentication and cybersecurity will be integrated into the Darkhorse technology platform, thereby delivering immutable security to Darkhorse digital media assets and to the content of other film and media companies. Kaiser Akbar, President & CEO of SoLVBL stated: \"This acquisition marks the beginning of a new era for SoLVBL and will offer the Company's Q by SoLVBL™ platform direct access to a number of new and highly scalable industries, specifically throughout the USA, Europe and the UK. Furthermore, the transaction will offer the Company increased financial and product flexibility, including new revenue streams while adding a revenue generating business. While this is our first acquisition, we have previously noted that we will seek acquisitions that are financially accretive, advance our technology platform, and enhance our pipelines of opportunities. Our core focus remains the expansion of Q by SoLVBL™ proprietary technology, broadening our suite of blockchain products, growing our potential customer base significantly and scaling our geographic presence. Our Board and senior management believe the acquisition of Darkhorse will benefit our stakeholders and accelerate the growth opportunities of our product suite.\"David van Herwaarde, CEO and Co-Founder of Darkhorse commented: \" We are pleased to have reached this agreement with SoLVBL, which we believe will deliver significant and immediate value to both SoLVBL and Darkhorse's shareholders. Both parties believe Darkhorse's expertise in operating its digital entertainment and technical infrastructure businesses, combined with its worldwid...