Opal Energy Corp. Announces Advance to Versus LLC in Connection With A Proposed Transaction
![Opal Energy Corp. Announces Advance to Versus LLC in Connection With A Proposed Transaction](https://www.minenportal.de/media/goldseiten-news.jpg)
Brandon Boddy, Director of Opal comments, "The signing of a letter of intent with Versus was the culmination of an extensive negotiation and due-diligence process by both sides. Today's advancement of funds is further testament to Opal's commitment to the Transaction and our enthusiasm to help develop their state of the art technology."
Matthew Pierce, CEO of Versus comments, "This is an important step for Versus. It demonstrates Opal's confidence in Versus and our commitment to the partnership with Opal. The funds advanced by Opal will help us to grow our team and take the technology forward as we integrate into games."
Further Information
Further details about the Transaction and the combined entity will be provided in a comprehensive press release if the parties enter into a definitive agreement. The Transaction, if completed, will constitute a fundamental change pursuant to CSE policies.
Completion of the Transaction is subject to a number of conditions, including but not limited to acceptance by the Canadian Securities Exchange (the "CSE"), completion of mutual due diligence and approval of the Opal and Versus shareholders. There can be no assurance that the Transaction will be completed as proposed or at all.
Reader Advisory
This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of Opal that may be issued in connection with the Transaction, the ownership of Opal, the requirement to obtain shareholder approval and the parties' ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The terms described above are not binding unless and until a Definitive Agreement is signed. Opal assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Contact
Opal Energy Corp.
Brandon Boddy, Director
(604) 639-4486