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Aug 16 (Reuters) - Baymount Inc BYMh.V :
* BAYMOUNT AND BLUE NORDIC PARTNERS INC ANNOUNCE PROPOSED BUSINESS COMBINATION TRANSACTION
* PROPOSED TRANSACTION IS INTENDED TO RESULT IN A REVERSE TAKE-OVER OF BAYMOUNT BY BNP AND ITS SHAREHOLDERS
* ENTERED INTO LETTER AGREEMENT PURSUANT TO WHICH BAYMOUNT PROPOSES TO ACQUIRE ALL ISSUED AND OUTSTANDING SHARES IN CAPITAL OF BNP
* PROPOSED DEAL EXPECTED TO BE COMPLETED BY WAY OF SHARE EXCHANGE, PLAN OF ARRANGEMENT, AMALGAMATION, OTHER FORM OF BUSINESS COMBINATION
* BAYMOUNT AND BNP ANTICIPATE THAT PROPOSED TRANSACTION WILL CLOSE ON OR ABOUT NOVEMBER 7, 2018
* HOLDERS OF BNP SECURITIES TO RECEIVE NUMBER OF SHARES, CONVERTIBLE SECURITIES IN CAPITAL OF BAYMOUNT DETERMINED ACCORDING TO EXCHANGE RATIO
* EXCHANGE RATIO BASED ON RELATIVE VALUE OF $1,000,000 FOR CO, ABOUT $13.96 MILLION FOR BNP, IN EACH CASE, CALCULATED AS OF DATE OF LETTER AGREEMENT
* INTENDS TO CONSOLIDATE ISSUED,OUTSTANDING SHARES ON BASIS OF ONE NEW BAYMOUNT SHARE FOR EACH 6.26 BAYMOUNT SHARES