MegaDeath
3 years ago
8-K out
Item 1.01. Entry into a Material Definitive Agreement
On September 13, 2021, Crucial Innovations Corp., a Nevada corporation (the “Company”) entered into a definitive Share Purchase Agreement (the “Agreement”) with JPD Capital PCC, a Guernsey Channel Islands registered company (“JPD”) . Pursuant to the terms of the Agreement, the Company will acquire from JPD an aggregate of 96% of all of the issued and outstanding shares of capital stock of Eco Equity Zimbabwe, a Zimbabwe registered company (“ECO”), in exchange for consideration consisting of 42,000,000 restricted shares of Company’s common stock, $0.0001 par value, which will represent Fifty-six percent (56%) of all issued and outstanding shares of Company common stock at the time of the closing of the transaction. The Agreement also provides for the Company, post-closing, to increase the number of its authorized shares of common stock from 75,000,000 shares to 80,000,000 shares, in anticipation of a post-closing private placement stock of 5,000,000 shares of the Company’s common stock. The closing of the transaction is subject to (i) approval by relevant governmental and regulatory authorities in Zimbabwe, if any, as well as JPD’s Board of Directors and (ii) the Company filing with the Securities and Exchange Commission its Quarterly Report on Form 10-Q for the period ended June 30, 2021. Coincident with the closing of the transaction, the Company’s existing officers and directors will resign and JPD shall name a majority of the new directors, who shall then appoint a new Chief Executive Officer, Chief Financial Officer, and Secretary of the Company. The amount of the consideration given for the acquisition of the shares of capital stock of ECO was determined pursuant to arm’s length negotiations between the parties and has been valued by the parties at $5.00 per share of the Company’s common stock to be issued to JPD, which is also the intended per share price for the anticipated post-closing private placement.
https://www.otcmarkets.com/filing/html?id=15231083&guid=8_f9kpxRYyQ353h
MegaDeath
3 years ago
ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.
On December 31, 2020, Crucial Innovations Corp., a Nevada corporation (the “Company”) entered into a definitive Equity Purchase Agreement with Mercantile Global Holdings, Inc., a Delaware corporation (“MGH”). [Reference is made to the Current Report on Form 8-K filed with the Securities and Exchange Commission on January 4, 2021].
On September 2, 2021, the Company and MGH entered into a Mutual Termination Agreement, whereby the parties agreed to terminate the Equity Purchase Agreement. The Mutual Termination Agreement provided for a mutual release of the parties. This summary is qualified in its entirety by reference to the full text of the Mutual Termination Agreement which is being filed with this Current Report on Form 8-K (this “Report”) as Exhibit 10.01 and incorporated herein by reference.
https://www.otcmarkets.com/filing/html?id=15228812&guid=xdI9kFpuF-z4mth
Crucial Innovations Corp To Acquire Eco Equity, a Medical Cannabis Operator in Zimbabwe Through Reverse Merger
LAS VEGAS, NV / ACCESSWIRE / September 16, 2021, Crucial Innovations Corp, (OTC PINK:CINV), a Nevada company, today announced that it has agreed to acquire, through a reverse merger ("the Merger"), Eco Equity (Pty) Limited, a medical cannabis operation in Zimbabwe, Africa, operating as a subsidiary of JPD Capital PCC, a Guernsey investment fund with multiple investments in the medical cannabis sector in Africa and the UK.
CINV will acquire 100% of the stock of Eco Equity (Pty) Limited ("ECO") and the entirety of its medical cannabis cultivation assets, at a valuation of $210,000,000, as appraised by Baker Tilly International in a recent review, and
As part of the agreement, CINV has agreed to undertake a private placement offering pursuant to Regulation D - Rule 506 in the US, and to foreign investors under Regulation S, to raise $25,000,000 at $5.00 per share. The private placement will be available to accredited investors immediately following the completion of the Merger.
"This is a major milestone in the evolution of Eco Equity. For nearly three years we have been at the leading edge of the industry, and now we will be the first Africa-only cannabis producer to be publicly traded on a US market," said JP Doran, JPD's co-founder and chief executive. "Our low-cost production model and focus on medically useful genetics and cannabinoids position ECO to become a dominant force in the increasingly global cannabis market; this Merger will give us the resources we need to accomplish that objective."
Upon completion of the Merger, ECO will become a wholly-owned subsidiary of the publicly-traded company which will be renamed Eco Equity Corp, and apply for a new stock trading symbol to reflect its new name and brand.
The completion of the reverse merger is subject to certain conditions including CINV filing its June 30 10 Q and being current in its SEC Filings, and Eco Equity Zimbabwe (Pty) Limited delivering its audited financial statements.
About Eco Equity Zimbabwe (Pty) Limited
ECO's facilities in Zimbabwe include a fully licensed 16,500 m2 polytunnel greenhouse, a 450 m2 R&D facility for genetics research, and an onsite pumphouse that provides adequate power to service all operations.
The cultivation site is 24,000 m2 and a 14,000 m2 post-harvest facility houses extraction equipment and packaging machines. The company is also preparing to build a GACP/EU-GMP certified, state-of-the-art, fully computerized 20,800 m2 glass greenhouse.
Currently operating at a forecast annual production rate of 15,470 Kg of high-THC cannabis flower and 1,591 Kg of distillate oil, management intends to continue scaling the operation to meet growing demand and expects to announce its first product sales by the end of 2021 and projects that it will be profitable in 2022.
ECO has a strong commitment to corporate responsibility. Through partnerships with community organizations, it provides local residents with access to healthcare and creates jobs. The company also built a solar plant on-site to meet its operating power requirements and redirects surplus energy to the community for domestic consumption.
For more information see www.eco-equity.com
https://www.otcmarkets.com/stock/CINV/news/story?e&id=1999015
adijas
3 years ago
NYMEX’s Ex-President Looks to Go Big with Mercantile Global Holdings’ Crypto Bank Play
April 11, 2019
James Bo Collins is a successful man. He became the president of NYMEX when he was only 35 years old and has been taking on several challenges since then. Now, he is investing in a new enterprise: to create his own crypto bank.
The Block Crypto has recently reported on this man’s story. After a busy life in New York, Bo Collins has decided for a change of scenery and moved to San Juan. There, he wants to create his own crypto bank, but he’s lobbying first in order to upgrade the regulation before he actually sets up shop in the country.
According to Collins’ interview with the Block, he was an early crypto investor. As early as 2011 he had already invested some money in the industry. He also made a huge investment in January 2017, which was a great time do it, since the prices skyrocketed until December.
Now, using his own money and some from some early crypto followers which are a part of the company, Collins decided to open his own crypto bank. He quit the private equity market and started to work with digital assets.
To him, it is important to start this business with only his money. This means that he will not have to answer to outside investors, which can give him a greater autonomy in how to deal with this new enterprise.
The San Juan Mercantile Exchange
This is how the Mercantile Global Holdings, which has the San Juan Mercantile Exchange (SJMX) as its main project, came to be. The SJMX, which is set to be launched in June 2019, will help the investors to get access to custody and trading crypto services.
Collins was quick in affirming that he was “building the bank properly”. The decision to go to Puerto Rico instead of the United States was mostly because they can have fewer regulations this way, but he said that he only wants clients who follow the rules. By not accepting tax evaders and other shady figures, he believes that he can upgrade the respectability of the bank.
According to the entrepreneur, creating this bank is all about the creation of something that can be cohesive and good for trading. They want to create something for traders who feel trapped as they are on a single exchange. If you have a Coinbase account, you can’t trade with Kraken without doing it there. This has to be fixed, in his view.
Basically, the idea is to serve as a connection between many exchanges, to give the clients access to a huge liquidity pool that can be important for the market and for them.
To do it, the company intends to address all the weaknesses and inefficiencies of these platforms and to create something that can fix them all. Traders would be connected with all the major crypto markets on the same screen. The name of this will be the Dark Pool.
Collins is pretty confident right now. He believes that the bank will receive over $1.5 billion USD in investments this year and that the company will cater to an important part of the market.
https://bitcoinexchangeguide.com/nymexs-ex-president-looks-to-go-big-with-mercantile-global-holdings-crypto-bank-play/
adijas
3 years ago
On December 31, 2020, Crucial Innovations Corp., a Nevada corporation (the “Company”) entered into a definitive Equity Purchase Agreement (the “Agreement”) with Mercantile Global Holdings, Inc., a Delaware corporation (“MGH”). Pursuant to the terms of the Agreement, the Company will acquire from MGH all of the issued and outstanding shares of capital stock of Mercantile Bank International Corp., a Puerto Rico corporation (“MBI”), in exchange for consideration including (i) 27,5445,452 restricted shares of Company’s common stock, $0.0001 par value, to be delivered to MGH by certain of the Company’s shareholders, which will represent Eighty-five percent (85%) of all issued and outstanding shares of Company common stock at the time of the closing of the transaction; and (ii) $500,000 payable at the closing of the transaction. Following the closing of the transaction, MBI will operate as a wholly owned subsidiary of the Company. The closing of the transaction is subject to approval by relevant governmental and regulatory authorities, including, but not limited to, the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico, as well as MBI’s Board of Directors, and the Board of Directors, shareholders, and creditors of MGH. Coincident with the closing of the transaction, the Company’s existing officers and directors will resign and J. Robert Collins, Jr., Chairman of the Board of the Board and Chief Executive Officer of MGH and Chairman of the Board of MBI, will be elected as Chairman of the Board and Chief Executive Officer of the Company.
https://www.otcmarkets.com/filing/html?id=14595594&guid=QsjqUe1lnfgsL3h
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