Almost Never Films Inc. entered into a letter of intent to acquire Smack Sportswear, Inc. (OTCBB:SMAK) in a reverse merger transaction on November 9, 2015. Under the terms, Smack Sportswear will issue 100 million shares of common stock of Smack Sportswear to the two shareholders of Almost Never Films as consideration for a 100% stake in Almost Never Films. Post deal, the board of Smack Sportswear will consist of persons appointed by Almost Never Films. The deal is conditioned on several terms, including the satisfactory due diligence by each party of the other and the requirement that liabilities of Smack Sportswear not to exceed $0.05 million. The transaction is subject to approval by shareholders of Smack Sportswear on changing its name to Almost Never Films Inc and issuance of shares for consideration.

The Board of Smack Sportswear recommend the shareholders to vote in favour of the transaction. As of February 29, 2016, the shareholders of Smack Sportswear approved the change of name. It is the intent of the parties that a definitive purchase and sale agreement shall be executed and delivered by no later than November 30, 2015.

David Lubin and Associates acted as legal advisor to Smack Sportswear, Inc.