Business
Ynvisible Interactive Enters into Definitive Agreement to Acquire Consensum Production AB
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2019) - Ynvisible Interactive Inc. (...
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"Ynvisible Interactive Enters into Definitive Agreement to Acquire Consensum Production ABVancouver, British Columbia--(Newsfile Corp. - August 9, 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 July 9, 2019, it has entered into a share exchange agreement dated effective August 7, 2019 (the \"Definitive Agreement\") among the Company, Consensum Production AB (\"Consensum\") and the shareholders of Consensum (the \"Definitive Agreement\"), pursuant to which, the Company will acquire all of the issued and outstanding shares of Consensum (the \"Proposed Transaction\"). The Proposed Transaction 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.The Proposed TransactionPursuant to the terms of the Definitive Agreement, Ynvisible will acquire all of the issued and outstanding shares of Consensum in consideration for the issuance of 3,564,474 common shares of the Company (the \"Payment Shares\") pro rata to shareholders of Consensum at a deemed price of $0.474 per Payment Share upon closing of the Proposed Transaction (the \"Closing Date\"). The Payment Shares will be subject to a statutory hold period of 4 months and a day from the Closing Date as well as a voluntary hold period of 6 months from the Closing Date for 25% of the Payment Shares and 12 months from the Closing Date on an additional 25% of the Payment Shares.The Proposed Transaction remains subject to certain closing conditions including, without limitation, (a) the receipt of all necessary corporate and regulatory approval; and (b) each party's representations and warranties in the Definitive Agreement being true and correct in all aspects as of the Closing Date, and each party meeting its terms and conditions and completing its covenants and obligations as contained therein. There can be no guarantees that the Proposed Transaction will be completed as contemplated o...