February 20, 2018 / 6:11 PM / 3 months ago

BRIEF-Focused Capital II Announces LOI With Fortress Blockchain For Proposed Qualifying Transaction

Feb 20 (Reuters) - Focused Capital II Corp:

* FOCUSED CAPITAL II CORP. ANNOUNCES LETTER OF INTENT WITH FORTRESS BLOCKCHAIN CORP. FOR PROPOSED QUALIFYING TRANSACTION

* SAYS ‍BOARD & MANAGEMENT OF RESULTING ISSUER AFTER GIVING EFFECT TO DEAL TO BE COMPRISED OF PERSONS NOMINATED BY FORTRESS BLOCKCHAIN​

* SAYS‍ TO ACQUIRE SHARES AT EXCHANGE RATIO OF 1 OF CO’S SHARES (ON A POST-CONSOLIDATION BASIS) FOR EVERY 1 FORTRESS BLOCKCHAIN SHARE​

* SAYS ‍REVERSE TAKEOVER OF CO WHEREBY AT LEAST 97.3% OF SHARES OF RESULTING ISSUER BE OWNED BY FORMER FORTRESS BLOCKCHAIN SHAREHOLDERS ​ Source text for Eikon: Further company coverage:

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