Edition:
India

Trueclaim Exploration Enters Into Definitive Agreement With New Wave Esports


Tuesday, 18 Jun 2019 

June 18 (Reuters) - Trueclaim Exploration Inc ::ENTERS INTO DEFINITIVE AGREEMENT WITH NEW WAVE ESPORTS CORP..CO TO ACQUIRE ALL SHARES OF NEW WAVE ESPORTS BY THREE-CORNERED AMALGAMATION BETWEEN CO, NEW WAVE ESPORTS , SUBCO.WITH TRANSACTION, CO TO CONSOLIDATE ITS COMMON SHARES ON A 1.5:1 BASIS, CHANGE ITS NAME TO "NEW WAVE ESPORTS CORP.TRUECLAIM EXPLORATION- LEADERSHIP TEAM OF RESULTING ISSUER IS EXPECTED TO CONSIST OF TRUMBULL FISHER AS PRESIDENT; TIFFANY LEE AS CHIEF FINANCIAL OFFICER.TRANSACTION BEING COMPLETED BY SEPTEMBER 30, 2019.BOARD OF DIRECTORS OF RESULTING ISSUER WILL CONSIST OF UP TO 5 MEMBERS.AGREEMENT PROVIDES FOR TERMINATION RIGHTS, INCLUDING IN EVENT TRANSACTION IS NOT COMPLETED BY SEPTEMBER 30, 2019.TRUECLAIM SHARES WILL REMAIN HALTED PENDING COMPLETION OR TERMINATION OF TRANSACTION.TRUECLAIM- WITH DEAL NEW WAVE ESPORTS SHAREHOLDERS TO GET CO'S SHARES ON BASIS OF 1 POST-CONSOLIDATION TRUECLAIM SHARE FOR EACH NEW WAVE ESPORTS SHARE.TRUECLAIM EXPLORATION - TRUECLAIM SHARES WILL BE ISSUED AT A DEEMED POST-CONSOLIDATION PRICE OF $0.15 PER TRUECLAIM SHARE TO NEW WAVE ESPORTS SHAREHOLDERS.IS EXPECTED TO DELIST TRUECLAIM SHARES FROM TSX VENTURE EXCHANGE ("TSXV"). 

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8 Mar 2019