Next Gen Metals (CSE:N) announced that it has signed a business combination agreement with Dollinger Enterprises and Dollinger Enterprises USA, a leading organization in the distribution and manufacturing of products including vaporizers and herbs in 25 countries.
As quoted in the press release:
Next Gen will acquire all of the issued and outstanding shares of an entity to be formed under the name of Namaste Technologies Holdings Inc. (“Namaste Holdings”), through a three‐cornered amalgamation whereby Next Gen’s wholly‐owned subsidiary GreenRush Analytical Laboratories will amalgamate with Namaste Holdings upon Closing (as defined below) and the shareholders of Namaste Holdings will receive post‐consolidated shares of Next Gen in exchange for their shares of Namaste Holdings, upon and subject to the terms and conditions set forth in this Agreement (the “Transaction”). The Transaction is deemed to be a Fundamental Change as that term is defined in the CSE’s policies. The Agreement supersedes and replaces the Binding Letter of Intent entered into between the parties.
Harry Barr, chairman and CEO of Next Gen, commented:
This signing of this Agreement, definition of the board and management, and determination of terms of financing, represent significant milestones in completion of this Transaction and our objective to transition Next Gen into an operating business with a solid base of revenue and considerable growth prospects. I would like to thank all those involved in this Transaction for their hard work and dedication and our shareholders for their continued support while we move forward with the objective of fulfilling the remaining conditions to closing this Transaction.