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BRIEF-Cluny Capital Announces Proposed Qualifying Transaction

Published 2019-09-04, 05:53 p/m
Updated 2019-09-04, 06:00 p/m
BRIEF-Cluny Capital Announces Proposed Qualifying Transaction

Sept 4 (Reuters) - Cluny Capital Corp CLNh.V :

* CLUNY CAPITAL ANNOUNCES PROPOSED QUALIFYING TRANSACTION

* PROPOSED TRANSACTION WOULD RESULT IN A REVERSE TAKE-OVER OF COMPANY BY XEBRA.

* ENTERED INTO A BINDING LETTER OF INTENT DATED AUGUST 19, 2019 WITH XEBRA BRANDS LTD

* ANTICIPATED CO WILL ACQUIRE XEBRA BY WAY OF A SHARE EXCHANGE, MERGER, AMALGAMATION, ARRANGEMENT OR OTHER SIMILAR FORM OF TRANSACTION

* ANTICIPATES MERGER WILL RESULT IN SHAREHOLDERS OF XEBRA HOLDING MAJORITY OF OUTSTANDING SHARES OF CO UPON CLOSING

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