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BRIEF-J55 Capital Corp. Enters Into Letter Of Intent To Acquire Esports Business

Published 2019-02-25, 02:22 p/m
BRIEF-J55 Capital Corp. Enters Into Letter Of Intent To Acquire Esports Business

Feb 25 (Reuters) - J55 Capital Corp FIVEp.V :

* J55 CAPITAL CORP. ENTERS INTO LETTER OF INTENT TO ACQUIRE ESPORTS BUSINESS

* J55 CAPITAL - INTENDS TO CONSOLIDATE COMMON SHARES ON BASIS OF 1.25 PRE-CONSOLIDATION SHARES FOR EVERY ONE POST-CONSOLIDATION SHARE

* J55 CAPITAL CORP - INTENDS TO CHANGE ITS NAME TO "LUMINOSITY GAMING INC." OR TO SUCH OTHER NAME AS AGREED TO BY COMPANY AND DEAL TARGET

* J55 CAPITAL CORP - ENTERED LETTER OF INTENT WITH AQUILINI GAMECO TO ACQUIRE ALL OF ISSUED AND OUTSTANDING SECURITIES OF AQUILINI

* J55 CAPITAL CORP - EXPECTED THAT RESULTING ISSUER FROM DEAL WILL BE LISTED ON TSXV AS A TIER 2 INDUSTRIAL ISSUER

* J55 CAPITAL CORP - WILL PURCHASE SHARES OF AQUILINI IN EXCHANGE FOR ABOUT 269 MILLION POST-CONSOLIDATION PURCHASER SHARES ON A ONE FOR ONE BASIS

* J55 CAPITAL CORP - DEAL CONSIDERATION SHARES WILL BE ISSUED AT A DEEMED PRICE OF $0.30 PER SHARE.

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