PM Legacy Inc. entered into a share purchase agreement to acquire Legacy Eight Curaçao NV and Azteca Messenger Services S.A. de C.V. and Phoenix Digital Services Ltd. from Kings Entertainment Group Inc. for CAD 0.17 million. (2024)

PM Legacy Inc. entered into a share purchase agreement to acquire Legacy Eight Curaçao NV and Azteca Messenger Services S.A. de C.V. and Phoenix Digital Services Ltd. from Kings Entertainment Group Inc. (CNSX:JKPT) for CAD 0.17 million on December 7, 2023. The Disposition is an arms-length transaction and is subject to terms and conditions as set forth in the Share Purchase Agreement which are customary for transactions of this nature, including, among other things, the approval of the Company?s shareholders and the approval of the Canadian Securities Exchange. The Share Purchase Agreement provides that if, for a 36-month period following closing of the Disposition, PM Legacy completes any sale, partial or otherwise, of the Subsidiaries or the assets thereof to an arm?s length party, the Company will be entitled to 10%-20% of the total consideration received therefor, depending on when such sale is completed.
As of June 4, 2024, the company has amended the agreement on March 28, 2024, April 17, 2024, and May 31, 2024. The primary purpose of the Amendments was to extend the outside date for completion of the Disposition, which date has now been extended to October 31, 2024. The Company also announces that Steve Budin has resigned as the CEO of the Company to pursue other opportunities. Mr. Budin will remain as a director of the Company until closing of the Disposition.