Pires Investments PLC Low6 announces Agreement for RTO of 735 BC
02 Fevereiro 2022 - 7:24AM
RNS Non-Regulatory
TIDMPIRI
Pires Investments PLC
02 February 2022
2 February 2022
Pires Investments plc
("Pires" or the "Company")
Low6 announces Agreement for RTO of 735 BC
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on its investment in Low6 Limited ("Low6"), the company that
has developed a next-generation sports betting platform.
Low6 has announced that it has entered into a binding letter
agreement (the "Agreement") with 1319735 B.C. Ltd. ("735 BC"). The
Agreement sets forth, in general terms, the basic terms and
conditions upon which Low6 and 735 BC will combine business
operations resulting in a reverse takeover (the "RTO") of 735 BC by
Low6 and its shareholders.
Pursuant to the terms of the Agreement, it is intended that Low6
and 735 BC will enter into a business combination by way of an
arrangement, amalgamation, share exchange or other similar
structure (the "Transaction") which will result in Low6 becoming a
wholly owned subsidiary of 735 BC or otherwise combining its
corporate existence with that of 735 BC. The issuer resulting from
the Transaction (the "Resulting Issuer") will carry on the current
business of Low6.
Prior to the completion of the Transaction, the parties will
complete a private placement (the "Concurrent Financing"). Low6 and
735 BC intend to apply to list the common shares of the Resulting
Issuer on the TSX Venture Exchange (the "TSXV"). There can be no
assurance that the common shares of the Resulting Issuer will begin
trading as contemplated, or at all, and neither Low6 nor 735 BC
make any representations that trading will occur.
Completion of the Transaction and the Concurrent Financing is
subject to a number of conditions, including but not limited to,
receiving all required shareholder, regulatory, and other
approvals. There can be no assurance that the Transaction or the
Concurrent Financing will be completed as proposed or at all.
Nicholas Lee, Director of Pires, commented:
" We are pleased to note the announcement made by Low6 regarding
its entry into a Binding Letter Agreement with 735 BC. This
development makes significant sense given the company's continued
growth and focus on North America.
Along with this Low6 development and last week's announcements
regarding Pluto Digital and Smarttech247, a number of Pires'
investments now have clear paths to listings in the short
term."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Joint Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Joint Broker Tel: +44 (0) 20 3167 7221
Tennyson Securities
Peter Krens
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence, Internet
of Things, Cyber Security, Machine Learning, Immersive Technologies
and Big Data, which the Board believes demonstrate evidence of
traction and the potential for exponential growth, due to
increasing global demand for development in these sectors.
For further information, visit:
https://piresinvestments.com/
About Low6
Low6 is a leader in sports gaming technology that powers
franchises with their own branded gaming experiences to engage and
monetize their digital fanbases. For the fans, by the fans - Low6
inspires innovative and creative solutions that redefines future
sports mobile gamification.
For further information, visit: https://www.low6.com
About 735 BC
735 is a British Columbia corporation that is a reporting issuer
under the securities laws of Alberta and British Columbia. 735 BC
has no material assets and does not conduct any operations or
active business, other than the identification and evaluation of
acquisition opportunities to permit the company to acquire a
business or assets in order to conduct commercial operations.
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