- Snowy Owl Gold Corp. (SNOW) has signed an agreement with Bluecorp Capital Corp. (doing business as Boba Mint)
- Bluecorp Capital Corp. is a developer of play-to-earn gaming software focused on Web 3.0 products and Ethereum blockchain technologies
- Snowy Owl proposes to acquire all of the issued and outstanding securities of Boba by way of a three-cornered amalgamation
- Consideration for the transaction will be satisfied through the issuance to the shareholders of Boba of an aggregate of 163,787,000 common shares of the company
- Snowy Owl Gold Corp. is a mineral exploration company
- Snowy Owl Gold Corp. opened trading at $0.03 per share
Snowy Owl Gold Corp. (SNOW) has signed an agreement with Bluecorp Capital Corp. (doing business as Boba Mint).
Bluecorp Capital Corp. is a developer of play-to-earn gaming software focused on the development and monetization of Web 3.0 products and Ethereum blockchain technologies.
Snowy Owl proposes to acquire all of the issued and outstanding securities of Boba by way of a three-cornered amalgamation. The proposed transaction is an arm’s length transaction.
When the proposed transaction is completed, Boba will be a wholly-owned direct subsidiary of the Snowy Owl.
It is anticipated that the resulting issuer will be listed on the Canadian Securities Exchange (CSE) and will carry on the business of Boba.
The company will be calling an annual and special meeting of shareholders to approve the proposed transaction before the end of 2022 and will file a notice of meeting and information circular as soon as practicable.
Boba currently has (i) 163,787,000 common shares issued and outstanding; (ii) 24,250,000 common share purchase warrants issued to various consultants; and (iii) 1,609,000 common share purchase warrants issued to finders and brokers.
Consideration for the proposed transaction will be satisfied through the issuance to the shareholders of Boba of an aggregate of 163,787,000 common shares of the company at a deemed issue price of $0.10 per share, subject to all necessary regulatory and security holder approvals.
It is expected that Boba shareholders will hold an aggregate of 82 per cent of the shares of the company following the closing of the proposed transaction, with shareholders of Snowy Owl holding the remaining 18 per cent.
Snowy Owl Gold Corp. is a mineral exploration company focused on acquiring, exploring, and developing gold projects in Quebec, Canada.
Snowy Owl Gold Corp. opened trading at $0.03 per share.