Business
Network Announces Proposed RTO Transaction with YD Ynvisible S.A.
VANCOUVER, BC / ACCESSWIRE / May 3, 2016 / Network Exploration Ltd. (TSXV: NET) (the "Compan...
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"Network Announces Proposed RTO Transaction with YD Ynvisible S.A.VANCOUVER, BC / ACCESSWIRE / May 3, 2016 / Network Exploration Ltd. (TSXV: NET) (the \"Company\" or \"Network\") is pleased to announce that it has entered into a binding letter of intent (the \"LOI\") dated April 29, 2016, which sets out the basic terms and conditions pursuant to which Network will acquire 95.53% of the issued and outstanding shares of YD Ynvisible S.A. (\"Ynvisible\") in exchange for common shares of Network. Pursuant to the terms of the LOI, the majority of Network's management and directors will be replaced with nominees of Ynvisible, and the Company will issue sufficient securities such that the transaction will constitute a Change of Business Reverse Takeover (\"RTO\") under the rules of the TSX Venture Exchange (the \"Exchange\").\nUpon successful completion of the RTO, Network will cease all operations as a mineral exploration company, and will be listed as a Tier 2 Technology Issuer on the Exchange, operating in the smart labeling space as further detailed below. \nInformation concerning Ynvisible\nYnvisible aims to be a leading company in the emerging printed electronics sector. It is a private company incorporated under the laws of Portugal with assets located in Portugal.\nPrinted electronics use new materials with electronic properties that are processable into inks and can be printed into thin layers (using conventional print house equipment) onto flexible materials, such as plastic and paper. \nYnvisible's proprietary electrochromic displays are the face of every smart label they produce. Ynvisible's displays use almost no power. They are ultra-low weight, microscopically thin, flexible, yet robust. When combined with various sensors they bring functionality and life to smart products. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things (\"IoT\"). Electrochromics-based smart labels offer simple non-obtrusive human interfaces to smart IoT objects. \nYnvisible's mix of services, materials and technology is a unique combination, which is winning favor among brand owners developing their IoT products for a huge market in its infancy. Since Ynvisible's displays are printed, product designers can easily adapt electrochromics to the d...