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BRIEF-Molystar Resources To Acquire All Outstanding Shares Of Askott Entertainment

Published 2020-01-20, 06:30 p/m
Updated 2020-01-21, 01:35 p/m
BRIEF-Molystar Resources To Acquire All Outstanding Shares Of Askott Entertainment

BRIEF-Molystar Resources To Acquire All Outstanding Shares Of Askott Entertainment

Jan 20 (Reuters) - Askott Entertainment:

* ASKOTT ENTERTAINMENT AND MOLYSTAR RESOURCES ANNOUNCE GOING PUBLIC TRANSACTION AND PRIVATE PLACEMENT FINANCING

* ASKOTT ENTERTAINMENT - MOLYSTAR WILL ACQUIRE ALL OF ISSUED & OUTSTANDING COMMON SHARES OF ASKOTT, IN EXCHANGE FOR COMMON SHARES OF MOLYSTAR

* ASKOTT ENTERTAINMENT - UPON DEAL CLOSE, SCOTT BURTON TO BE APPOINTED AS PRESIDENT & CEO OF COMBINED CO

* ASKOTT ENTERTAINMENT - IAN WINTER, MATHEW LEE & JEREMY HUTCHINGS TO BE APPOINTED AS COMBINED CO'S COO, CFO & CHIEF TECHNOLOGY OFFICER, RESPECTIVELY

* ASKOTT ENTERTAINMENT - TO CONDUCT PRIVATE PLACEMENT OFFERING OF SUBSCRIPTION RECEIPTS AT $0.85/SUBSCRIPTION RECEIPT, FOR PROCEEDS OF MINIMUM $4 MILLION

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