Low6 announces Agreement for RTO of 735 BC

RNS Number : 4679A
Pires Investments PLC
02 February 2022
 

2 February 2022

Pires Investments plc

 

("Pires" or the "Company")

 

Low6 announces Agreement for RTO of 735 BC

 

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in Low6 Limited ("Low6"), the company that has developed a next-generation sports betting platform.

 

Low6 has announced that it has entered into a binding letter agreement (the "Agreement") with 1319735 B.C. Ltd. ("735 BC"). The Agreement sets forth, in general terms, the basic terms and conditions upon which Low6 and 735 BC will combine business operations resulting in a reverse takeover (the "RTO") of 735 BC by Low6 and its shareholders.

 

Pursuant to the terms of the Agreement, it is intended that Low6 and 735 BC will enter into a business combination by way of an arrangement, amalgamation, share exchange or other similar structure (the "Transaction") which will result in Low6 becoming a wholly owned subsidiary of 735 BC or otherwise combining its corporate existence with that of 735 BC. The issuer resulting from the Transaction (the "Resulting Issuer") will carry on the current business of Low6.

 

Prior to the completion of the Transaction, the parties will complete a private placement (the "Concurrent Financing"). Low6 and 735 BC intend to apply to list the common shares of the Resulting Issuer on the TSX Venture Exchange (the "TSXV"). There can be no assurance that the common shares of the Resulting Issuer will begin trading as contemplated, or at all, and neither Low6 nor 735 BC make any representations that trading will occur.

 

Completion of the Transaction and the Concurrent Financing is subject to a number of conditions, including but not limited to, receiving all required shareholder, regulatory, and other approvals. There can be no assurance that the Transaction or the Concurrent Financing will be completed as proposed or at all.

 

 

Nicholas Lee, Director of Pires, commented:

 

" We are pleased to note the announcement made by Low6 regarding its entry into a Binding Letter Agreement with 735 BC. This development makes significant sense given the company's continued growth and focus on North America.

 

Along with this Low6 development and last week's announcements regarding Pluto Digital and Smarttech247, a number of Pires' investments now have clear paths to listings in the short term."

 

 

Enquiries:

 

Pires Investments plc

Nicholas Lee, Director

 

Tel: +44 (0) 20 3368 8961

 

Joint Broker

Peterhouse Capital Limited

Duncan Vasey/Lucy Williams

 

Tel: +44 (0) 20 7469 0935

Tel: +44 (0) 20 7469 0936

Joint Broker

Tennyson Securities

Peter Krens

 

Tel: +44 (0) 20 3167 7221

Financial media and PR

Yellow Jersey

Sarah Hollins

Henry Wilkinson

Annabelle Wills

Tel: +44 (0) 20 3004 9512

 

 

Notes to Editors

 

About Pires Investments plc

 

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

 

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

 

For further information, visit: https://piresinvestments.com/

 

About Low6

 

Low6 is a leader in sports gaming technology that powers franchises with their own branded gaming experiences to engage and monetize their digital fanbases. For the fans, by the fans - Low6 inspires innovative and creative solutions that redefines future sports mobile gamification.

 

For further information, visit: https://www.low6.com  

 

About 735 BC

 

735 is a British Columbia corporation that is a reporting issuer under the securities laws of Alberta and British Columbia. 735 BC has no material assets and does not conduct any operations or active business, other than the identification and evaluation of acquisition opportunities to permit the company to acquire a business or assets in order to conduct commercial operations.

 

 

 

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