Under the final terms TAG will become a wholly-owned subsidiary of APPlife. TAG’s shareholders will initially own approximately 50.1% of APPlife’s outstanding common shares, with the ability to increase to a 90% supermajority based on meeting certain performance objectives1. The acquisition transaction is structured to catalyze TAG's growth to benefit all ALDS stockholders. TAG will operate freely (subject to applicable legal and regulatory requirements) with its own board of directors and highly experienced executive team to position it to achieve the highest possible growth. ALDS has a
1The performance objectives for TAG in order for TAG’s shareholders to receive a 90% supermajority ownership and to have the right to elect APPlife’s board of directors and executive team to assume decision-making control of ALDS, and to cause APPlife to transfer the legacy assets and operations of APPLife to a private entity are as follows:
1) TAG achieves
2) APPlife receives
ALDS legacy shareholders will maintain no less than 10% of APPLife through an uplisting to a national exchange.
There can be no assurance that definitive agreements for the foregoing transaction will be successfully completed or executed.
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Forward Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this communication, regarding TAG’s reverse merger transaction with APPlife, including the ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the respective management of TAG and APPlife and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of TAG or APPlife. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the reverse merger, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the stockholders of TAG or, if required, APPlife is not obtained; failure to realize the anticipated benefits of the reverse merger; risk relating to the uncertainty of the projected financial information with respect to APPlife; TAG’s ability to implement its business and growth strategy; changes in governmental regulation, APPlife’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to APPlife’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response, and as a result of the proposed transaction; APPlife’s ability to comply with applicable or unforeseen regulations; competitive pressures from many sources, including those, having more experience and better financing.
More information on potential factors that could affect APPlife's financial results is included from time to time in APPlife’s public reports filed with the
APPlife Digital Solutions Contact Information: Investor Relations
Tel: (585) 232-5440
Email: jody@APPlifedigital.com
The Awareness Group Investor Relations and Media Contact:
Senior Managing Director
Hayden IR
Tel: (346) 396-8696
Email: brian@haydenir.com
Source:
2024 GlobeNewswire, Inc., source