TORONTO, Dec. 06, 2021 (GLOBE NEWSWIRE) — FTI Foodtech International Inc. (TSXV: FTI) (“FTI” or the “Company”) today announced that the Company has signed a non-binding letter of intent (“LOI”) to acquire MoneyLine Sports Inc. (“MoneyLine”), based in Ontario, with its US subsidiaries, in an equity transaction.
Pursuant to the terms of the LOI, it is the intention of the parties to sign a definitive agreement to complete the approved transaction with the TSX Venture exchange within 30 days. Conditions precedent to signing of a definitive agreement include, both parties submitting to and completing due diligence investigations; both parties obtaining any shareholder approval required, and; MoneyLine providing the two most recent fiscal years of audited financial statements.
MoneyLine is a SaaS (Software as a Service) technology company, focused on developing licensed, digital streaming content and tools for the growing land-based and online gaming sector, through blockchain applications.
ON BEHALF OF THE BOARD OF DIRECTORS
William Hullah, President
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