Blockmate Ventures Inc. (TSXV:MATE) signed a binding share purchase agreement to acquire BESS Power Corporation on October 25, 2023. In consideration for the Transaction, Blockmate will issue 20,000,000 common shares (the ?Consideration Shares?) to the existing shareholders of BESS (collectively, the ?Vendors?). The Consideration Shares are subject to restrictions on resale for 4 months and 1 day after completion of the Transaction. Pending approval from the TSX Venture Exchange, completion of the Transaction is expected to take place on or before November 30, 2023.
Blockmate Ventures Inc. (TSXV:MATE) has cancelled the acquisition of BESS Power Corporation on April 26, 2024. No funds were advanced to BESS in connection with the proposed acquisition, and the Blockmate Ventures Inc. has not assumed any ongoing liabilities or obligations as a result of termination of the agreement.