Business
Spackman Equities Group Inc. Enters Reverse-Takeover with Crystal Planet Limited
Toronto, Ontario--(Newsfile Corp. - February 6, 2023) - Spackman Equities Group Inc. (TSXV: SQG) ...
About this update from Spackman Equities Group Inc.
[{"type":"text","content":"Spackman Equities Group Inc. Enters Reverse-Takeover with Crystal Planet LimitedToronto, Ontario--(Newsfile Corp. - February 6, 2023) - Spackman Equities Group Inc. (TSXV: SQG) (\"SQG\" or the \"Company\") and Crystal Planet Limited (\"CPL\") are pleased to announce the entering into of a definitive share exchange agreement on February 6, 2023 (the \"Agreement\") pursuant to which SQG will acquire all of the issued and outstanding shares in the capital of CPL from Spackman Media Group Limited (the \"Vendor\"). The transaction will constitute a \"Reverse Takeover\" (\"RTO\") transaction under the policies of the TSX Venture Exchange (the \"TSXV\").CPL is a private company incorporated under the laws of Hong Kong with two wholly-owned subsidiaries, SBD Entertainment Inc. and MSTeam Entertainment Co., Ltd. that operate full-service talent agencies, representing some of the top artists in the Korean entertainment industry. CPL leverages its portfolio of artists as a platform to develop, produce, finance, and own the highest quality of entertainment content projects, including theatrical motion pictures and TV dramas. This platform also creates and derives opportunities to provide entertainment media consulting services as well as to make strategic investments in development stage businesses that can collaborate with represented artists.SQG is a Canadian-based investment holding company that invests into and develops small/medium-sized growth companies that possess industry-specific know-how or proprietary technologies, primarily in Asia. SQG also makes investments in selected publicly-traded companies that SQG believes are attractive investment propositions. The objectives of SQG are to (i) invest in or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified and balanced portfolio of investments and (iii) deliver the collective value derived from the performance of its portfolio of investments to its shareholders. SQG is currently a reporting issuer in each of the provinces of Canada and is listed on the TSX Venture Exchange under the symbol \"SQG\". The RTO will be completed pursuant to the terms of the Agreement, which will result in CPL becoming a wholly-owned subsidiary of SQG. Upon completion of the RTO, SQG will own all of the issued and outstanding shares of CPL (the \"Resulting ...