Nebu cancels Linceo reverse takeover
NEBU RESOURCES Inc. has cancelled its previously announced proposed reverse take-over transaction with Linceo Media Group Inc. In consideration for the expenses incurred by Nebu and the assistance provided by Nebu to Linceo in connection with the proposed transaction and related financings, Linceo agrees to issue to Nebu 6,667 common shares of Linceo, which are expected to have a value of approximately $240,000. Such value was determined as reasonable through arms-length negotiation between the parties. Linceo has informed Nebu that it is in discussions with various parties regarding an alternative transaction or joint venture with respect to its properties.
The company is pleased to announce that it is finalizing details of a conditional letter of intent with Farris Holdings Group Inc., a Delaware corporation, pursuant to which Nebu will change its business to an investment company.
Details of the proposed transaction remain subject to negotiation and will be provided in a separate press release when finalized by the parties’ respective advisers.
The common shares of Nebu will remain halted from trading, pending the review of the proposed transaction and change of business by the TSX Venture Exchange.
We seek Safe Harbor.
Rudy Bianchi, Paul Jason Crath, Rocco Antonio Liscio, Mark Mungo
(NBU) Shares: 13,237,390