LZG International, Inc. completed the acquisition of Smart Insurance Ecosystem Platform and Certain other Assets from Intellagents, Inc. for $3 million.
March 06, 2022
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LZG International, Inc. (OTCPK:LZGI) entered into an asset purchase agreement to acquire Smart Insurance Ecosystem Platform and Certain other Assets from Intellagents, Inc. for $3 million on February 23, 2022. LZG agreed to purchase Intellagents' assets for three million dollars ($3,000,000), subject to adjustments and the assumption of certain liabilities. At the Closing Date LZG will pay two hundred thousand dollars ($200,000) in cash and will issue 2,800,000 shares of common stock to Intellagents. The shares will be valued at two million eight hundred thousand dollars ($2,800,000), $1.00 per share. The amount of shares may be adjusted if the LZG common stock is trading under $1.00 on the Closing Date. The Asset Purchase Agreement provides that Intellagents will assign certain contracts and IP agreements to LZG, including Intellagents' employment agreements with its officers Eric Hall, CEO; Mark Stender, President; and Michael Cocca, CTO.
LZG International, Inc. (OTCPK:LZGI) completed the acquisition of Smart Insurance Ecosystem Platform and Certain other Assets from Intellagents, Inc. on February 23, 2022.
LZG International, Inc. is an artificial intelligence (AI) solutions company. The Company's FatBrain AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, cloud and blockchain technologies into auditable, explainable and to integrate AI solutions. FatBrain's subscriptions allow all companies to deploy its advanced AI solutions quickly, easily, and securely behind their firewalls or via cloud. FatBrain AI applications include FatBrain AI finance and crypto, FatBrain AI insurance and risk, FatBrain AI trade and supply chain, and FatBrain AI Enable AI 2.0. FatBrain's global delivery includes 600 plus team across design, development centers in the United States, United Kingdom, India, and Kazakh Republic. Its AI Solutions are supported by the Outcomes software platform. Outcomes software platform provides metric learning, stress testing and casual reasoning, and multiagent dynamics.
LZG International, Inc. completed the acquisition of Smart Insurance Ecosystem Platform and Certain other Assets from Intellagents, Inc. for $3 million.