CoinSmart entered into a letter of intent to acquire Mesa Exploration Corp. in a reverse merger transaction.
The transaction is subject to listing of Mesa Exploration shares on a recognized Canadian stock exchange, receipt of the shareholder approvals of Mesa Exploration Corp and CoinSmart, approvals of all regulatory bodies having jurisdiction in connection with the transaction, conditional approval of a recognized Canadian stock exchange, including the satisfaction of its listing requirements, CoinSmart will have completed the concurrent financing and the satisfaction of other closing conditions customary to transactions of this nature. Parties have received conditional approval from the Neo Exchange Inc. to list the common shares following the completion of the transaction. Alex Farcas of Dentons Canada LLP acted as legal advisor to Mesa Exploration Corp. Lori Stein and Alan Hutchison of Osler, Hoskin & Harcourt LLP acted as legal advisor to CoinSmart.