February 13, 2020 / 9:20 AM / 5 days ago

BRIEF-QuickCool Enters LOI With Canadian Esport Company GameCubed Inc.

Feb 13 (Reuters) - QuickCool AB:

* ANNOUNCED ON WEDNESDAY HAS ENTERED INTO A LETTER OF INTENT REGARDING THE POTENTIAL REVERSE TAKEOVER OF QUICKCOOL BY ESPORT COMPANY GAMECUBED INC.

* ENTERED INTO A LETTER OF INTENT WITH CANADIAN ESPORT COMPANY GAMECUBED INC. AND ITS SHAREHOLDERS PURSUANT TO WHICH THE SHAREHOLDERS OF GAMECUBED AGREED TO TRANSFER A 100% HOLDING IN GAMECUBED TO QUICKCOOL IN EXCHANGE FOR NEWLY ISSUED QUICKCOOL SHARES

* THE COMPLETION OF THE TRANSACTION IS SUBJECT TO A NUMBER OF CONDITIONS, INCLUDING THE EXECUTION OF BINDING AGREEMENTS AND THE REQUIRED SHAREHOLDER AND STOCK EXCHANGE APPROVALS

* THE INDICATIVE PURCHASE PRICE FOR GAMECUBED IS CAD 12 MILLION, BUT IS SUBJECT TO FINAL NEGOTIATION

* THE PARTIES AIM IS FOR THE TRANSACTION TO BE COMPLETED IN APRIL 2020

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Further company coverage: (Gdansk Newsroom)

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