The canadian holding company GoverMedia Plus Canada acquire cryptocurrency exchange EXMO — it says the companies signed a Letter of intent (LOI).
It is anticipated that the document will allow GoverMedia to occupy a unique position in negotiating the deal over the next 180 days. On completion of the transaction the merged entity will continue to conduct business on the platform EXMO. It is worth noting, therefore, the exchange will be able to enter the stock exchange — shares GoverMedia Plus Canada listed on the Canadian securities exchange (CSE) and the Frankfurt stock exchange (FSE).
According to a joint statement the companies released yesterday, the acquisition of the stock exchanges after compliance with the package of measures due diligence will “meet all necessary legal requirements and the requirements of regulators”. The document signed by the parties, suggests that the ultimate structure of the transaction will be determined on the basis of mutual agreement by the companies.
As stated by the CEO GoverMedia Roland John. BOPP (Roland J. Bopp), the successful completion of this “business combination” will result in exchange “more than 2 million active users” and will determine the opportunity to fully enter the European, North American and Asian markets.
EXMO was founded in 2013 and currently has offices in London, Kiev, Barcelona and Moscow. According to information provided on the official website of crypto currency exchange 1.5 million active users. At the time of publication EXMO is 49 position in the world ranking cryptocurrency exchanges by trading volume over 24 hours, compiled by CoinMarketCap, with the index more than $25 million.
Note, at the end of 2017, managing Director of the exchange Pavel Lerner was kidnapped by criminals demanding a ransom in bitcoin in the amount of $1 million Sum was paid, after which Lerner released.
GoverMedia Plus Canada is a public holding company with Russian daughter Govermedia.plus, organizing the activities of the platform to provide various services such as e-Commerce, crowdfunding, corporate auctions, corporate database, social media, multimedia and messedzhing.
Recall that in late October, the cryptocurrency exchange Bitstamp has confirmed the fact of sale of a controlling stake in the investment company NXMH, owned by South Korean conglomerate NXC. Allegedly, at that time the cost of the exchange was estimated at $60 million (for comparison, in 2014 – $39 million).
In addition, occupying the fourth place in the list of the top global kryptomere Huobi, in September bought a Japanese exchange BitTrade, a month earlier, acquired a controlling stake in a Hong Kong public company Pantronics Holdings, which was regarded by some experts as an alternative way for the exchange to get on the secondary financial market, becoming OJSC via so-called reverse takeover.