Bowmo, Inc. entered into an agreement to acquire Cruzani, Inc. in a reverse merger transaction.
May 09, 2022
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bowmo, Inc. entered into an agreement to acquire Cruzani, Inc. (OTCPK:CZNI) in a reverse merger transaction on May 4, 2022. Each issued and outstanding share of the common stock of Bowmo will be converted into 1 share of Series G Preferred Stock, $0.001 par value, of Cruzani including but not limited to: (i) aggregate voting rights that, after giving effect to the Merger, shall equal 78% of the total shareholder votes of the Cruzani when voting together with all of the other issued and outstanding shares of Cruzani (common and preferred); and (ii) conversion rights into common stock of Cruzani equal to the voting rights of the Cruzani Series G Preferred Stock. As a result of the Merger, Cruzani will be the sole shareholder of Bowmo and Bowmo shareholders will become majority shareholders of Cruzani. The transaction is subject to the approval of Bowmo, Inc shareholders, the filings of parties pursuant to the HSR Act, if any, shall have been made and the applicable waiting period and any extensions thereof shall have expired or been terminated and Cruzani shall have not more than $500,000.00 of Liabilities. The agreement has been unanimously approved by both parties board.
Bowmo, Inc. is an artificial intelligence (AI)-powered recruiting company. The Companyâs principal lines of business are direct placement of candidates with employers and recruiting as a service. It offers recruiting software and services through an online AI-driven platform to connect potential candidates to employers for all businesses looking. It provides an intelligent software solution for the staffing and recruiting industry that integrates into existing ATS, applicant tracking systems. It helps to revive the recruiterâs human touch and evolve the candidate sourcing process. The Companyâs bowmo V-RPO is a combination of proprietary AI-based technology for a do-it-yourself sourcing experience, matching candidates to jobs from 200 million potential candidates without having to use keyword searches or Boolean strings. The bowmo V-RPO automates the process with its AI-based matching engine and then provides tools, such as video interviewing and cultural and technical assessments.