- Snowy Owl Gold Corp. (SNOW) has signed a non-binding letter of intent with Bluecorp Capital Corp. (d.b.a Boba Mint)
- Snowy Owl proposes to acquire all of the issued and outstanding securities of Boba by way of a share exchange or amalgamation
- Once the proposed transaction is concluded, Boba will either be a wholly-owned direct subsidiary of Snowy Owl or will have merged with the company
- Boba is a privately held technology company focused on the development and monetization of Web 3.0 products
- Snowy Owl Gold Corp. is a mineral exploration company focused on acquiring, exploring, and developing gold projects in Quebec
- Snowy Owl Gold Corp. was down 20.00 per cent, trading at $0.04, at 12:39:43 ET
Snowy Owl Gold Corp. (SNOW) has signed a non-binding letter of intent with Bluecorp Capital Corp. (d.b.a Boba Mint).
Snowy Owl plans to acquire all of the issued and outstanding securities of Boba by way of a share exchange, amalgamation or such other way agreed upon by the parties.
When the proposed transaction is concluded, Boba will either be a wholly-owned direct subsidiary of Snowy Owl or will have merged with the company, with the company being the surviving entity (the resulting issuer).
It is anticipated that the resulting issuer will be listed on the Canadian Securities Exchange (CSE) and will carry on the business of Boba.
Boba is a corporation existing under the laws of British Columbia. 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 is expected to be satisfied by issuing a total of 163,787,000 common shares to the shareholders of Boba, subject to regulatory and securityholder approvals.
It is expected that Boba shareholders will hold an aggregate of 82 per cent of the company’s shares following the closing of the proposed transaction, with shareholders of Snowy Owl holding the remaining 18 per cent.
Boba is a privately held technology company focused on developing and monetizing Web 3.0 products. Boba specializes in designing, selling, and integrating ERC1155 and ERC721 Non-Fungible Tokens (NFTs) into the gaming and art sectors.
Snowy Owl Gold Corp. is a mineral exploration company focused on acquiring, exploring, and developing gold projects in Quebec.
Snowy Owl Gold Corp. was down 20.00 per cent, trading at $0.04, at 12:39:43 ET.