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Appreciated Media Holdings Inc. (fka AMEFF) RSS Feed

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08/10/2021:
 

Appreciated Announces Fulfillment of Prior Obligations, Reverse Takeover by Trinity Pictures and Credit Facility

https://finance.yahoo.com/news/appreciated-announces-fulfillment-prior-obligations-211100678.html
 
 
 
 
 
 
Newsfile Corp.
Mon, August 9, 2021, 5:11 PM·19 min read
 
 
In this article:
 
 
 
 
 
 
 
 
 

Vancouver, British Columbia--(Newsfile Corp. - August 9, 2021) - Appreciated Media Holdings Inc. (TSXV: AMH) (OTC: AMEFF) ("Appreciated" or the "Company") and Trinity Pictures Distribution Limited ("Trinity") are pleased to announce that they have entered into an arrangement agreement dated August 9, 2021 (the "Arrangement Agreement"), which outlines the terms and conditions pursuant to which Appreciated and Trinity will complete a transaction that, among other things, will result in a reverse takeover of Appreciated by the shareholders of Trinity (the "Transaction") pursuant to TSX Venture Exchange (the "TSXV") Policy 5.2 - Changes of Business and Reverse Takeovers ("Policy 5.2"), as detailed below. The Transaction will be completed by way of a plan of arrangement under the Business Corporations Act (British Columbia). In addition, the Company has entered into a debt settlement agreement pursuant to which the Company will settle $120,000 of debt through the issuance of units of the Company (the "Units") and will settle an aggregate of $91,000 owed by the Company to arm's length third parties through the issuance of common shares in the capital of the Company (the "Common Shares") at a deemed price of $0.05 per share in settlement of amounts owing by the Company. In addition, the Company has received a commitment from Oranmore Limited for the provision of a credit facility of up to $1,000,000 to Appreciated for working capital purposes.



https://www.amcomrimedia.com/news/amcomri-launches-reverse-takeover-of-appreciated-media/

Amcomri Media Group, through its subsidiary, Trinity Pictures Distribution Limited (Trinity) has announced a proposed Reverse TakeOver of the TSX-V listed entertainment company, Appreciated Media Inc. (Appreciated).

The proposed transaction, which is subject to the approval of the Shareholders of Appreciated, is an all-share acquisition of Trinity and its subsidiary companies, 101 Films, 101 Films International, Hollywood Classics and Abacus Media Rights and values those operating companies at $50m. Appreciated itself has been largely dormant in recent months.

Following the approval of the shareholders of Appreciated the company will be re-named Amcomri Entertainment Inc. and a number of the management team members of Trinity will join the main board of the listed vehicle. A detailed Circular is to be issued to the shareholders of Appreciated following approval by TSX-V.

Various Amcomri entities have also agreed to convert debts owing to them by Appreciated into equity and Amcomri Holdings Limited will provide a $1,000,000 working capital facility to the group.

“This proposed transaction would represent a massive step forward for Amcomri and for Appreciated as we continue to grow our global distribution networks and our production capabilities in Canada and the US”, commented Paul McGowan, Chairman of Amcomri.

Further details of the transaction can be found in the official announcement at https://www.newsfilecorp.com/release/92574/Appreciated-Announces-Fulfillment-of-Prior-Obligations-Reverse-Takeover-by-Trinity-Pictures-and-Credit-Facility

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