Business
Ynvisible Interactive Completes Acquisition of Consensum Production AB
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2019) - Ynvisible Interactive Inc. ...
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"Ynvisible Interactive Completes Acquisition of Consensum Production ABVancouver, British Columbia--(Newsfile Corp. - August 21, 2019) - Ynvisible Interactive Inc. (TSXV: YNV) (OTCQB: YNVYF) (FSE: 1XNA) (the \"Company\" or \"Ynvisible\") is pleased to announce that further to its press release of August 9, 2019, the Company has completed the acquisition (the \"Acquisition\") of all of the issued and outstanding shares of Consensum Production AB (\"Consensum\") pursuant to the terms of a share exchange agreement dated effective August 7, 2019 (the \"Definitive Agreement\") among the Company, Consensum and the shareholders of Consensum. Pursuant to the terms of the Definitive Agreement and in consideration of the Acquisition, Ynvisible issued to the former Consensum shareholders an aggregate of 3,564,474 common shares of the Company (the \"Payment Shares\") at a deemed price of $0.474 per Payment Share. The Payment Shares will be subject to a statutory hold period expiring December 21, 2019 as well as a voluntary hold period until February 20, 2020 for 25% of the Payment Shares and August 20, 2020 on an additional 25% of the Payment Shares.The Acquisition is intended to position Ynvisible as a leading provider of electrochromic printed display solutions for high volume applications. The combined entity will leverage Ynvisible's technical expertise, customer base and experienced management team, will establish high volume roll-to-roll printing of electrochromic displays, and will further expand its production and system integration capabilities of other printed electronic components and systems.Jani-Mikael Kuusisto, the CEO of Ynvisible, commented: \"We are happy to have Consensum now become a part of Ynvisible, to have a presence in Sweden, and further strengthen our production and tech transfer capabilities with this talented team. We look forward to further building relationships with Consensum's customers and partners.\"About ConsensumConsensum is a contract manufacturer of printed electronics and hybrid systems. Consensum is located in Sweden in the city of Linköping and with active collaborations with partners in the neighboring city Norrköping. The Twin-city region has been a leading hub in printed and paper based electronics for over 25 years. Linköpings univeristet and applied research institute RISE (formerl...