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VANCOUVER, British Columbia, Dec. 30, 2020 (GLOBE NEWSWIRE) — Global Care Capital Inc. (CSE:HLTH, FRANKFURT: L6V1) (the “Company” or “Global Care”) a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that it has entered into a letter of intent dated December 29th, 2020 (the “LOI”), which sets out the basic terms and conditions for the acquisition by the Company of all of the issued and outstanding securities in the capital of ASIC Power Company (“ASIC”), the first cryptocurrency company combining state of the art ASIC chips with royalty streaming contracts, in exchange for securities of Global Care (the “Transaction”).
The Company and ASIC have entered into the LOI, which sets out certain terms and conditions pursuant to which the proposed Transaction will be completed. The terms outlined in the LOI are subject to the parties successfully entering into a definitive agreement (the “Definitive Agreement”) in respect of the Transaction on or before January 31st, 2021 or such other date as the Company and ASIC may mutually agree. The material terms of the Transaction are as follows:
- In consideration for the Transaction, Global Care will issue an aggregate of 100,000,000 common shares of Global Care (the “Consideration Shares”) to ASIC shareholders at a deemed price of $0.095 per Consideration Share.
- There is