MeetAmi Innovations Inc. cancelled the acquisition of Smithe Resources Corp. (TSXV:SMTH.P) in a reverse merger transaction.
The board of directors of the Resulting Issuer shall be restructured to consist of four members consisting of Hashim Mitha (Chief Executive Officer of MeetAmi), Sarah Morton (Chief Strategy Officer of MeetAmi) and two additional directors mutually agreed by Smithe and MeetAmi. The officers of the Resulting Issuer shall consist of the following: Hashim Mitha as Chief Executive Officer, Sarah Morton as Chief Strategy Officer, Vaclav Vincalek as Chief Technology Officer, Stewart Marshall as Chief Financial Officer and additional officers determined by MeetAmi. The transaction is subject to execution of a definitive agreement; receipt of all required regulatory, corporate and third-party approvals; approval of the shareholders of MeetAmi; completion of satisfactory results from due diligence investigations; completion of the private placement; completion of the consolidation and name change; and other customary closing conditions.
MeetAmi Innovations Inc. cancelled the acquisition of Smithe Resources Corp. (TSXV:SMTH.P) in a reverse merger transaction on March 11, 2024. The parties have determined not to proceed with the transaction as a result of current market conditions. The parties have no further obligations under the letter of intent, except that CAD 25,000 remains owing by MeetAmi to Smithe in respect of an initial advance made in connection with the transaction.