Exploratus Ltd. signs LOI with Ayecka Communication Systems, Ltd.
Calgary, Alberta (FSCwire) - Exploratus is pleased to announce that it has signed a non-binding Letter of Intent with Ayecka Communication Systems, Ltd. (“Ayecka”). Ayecka is an Israeli high tech company established 2005, whose business is to provide innovative, cost-effective solutions for the delivery of IP and video over satellite links, and has been driving the development of a range of cutting edge satellite IP delivery, DVB-S2/S2X standards, video-over-IP, OTT and CDN technologies.
The parties intend to structure the transaction as a reverse takeover and, upon closing, current Exploratus shareholders would own approximately 3.7% of the resultant company (approximately 3% on a fully diluted basis) after a share consolidation of 1 one post-consolidation share for each 2.5 pre-consolidation shares, the acquisition of Ayecka and a pre-transaction financing of $5,000,000. Conditions to the completion of the transaction will include Ayecka completing a minimum of a $750,000 financing and Exploratus settling its outstanding debt with S. Mark Francis, the CEO of Exploratus in consideration for the transfer of the remaining resource properties of Exploratus to Mr. Francis as well as all required shareholder and regulatory approvals.
More details will be provided once the transaction contemplated by the LOI has been advanced.
For more information on Ayecka contact Ronnie Jaegermann, Aloni Haft Investment Banking, at firstname.lastname@example.org or 972-54-4202054.
S. Mark Francis, CEO
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Source: Exploratus Ltd.
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