Friendable, Inc. completed the acquisition of substantially all the assets of Artist Republik Inc. for $0.69 million.
January 03, 2022
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Friendable, Inc. (OTCPK:FDBL) entered into an agreement to acquire substantially all the assets of Artist Republik Inc. on December 17, 2021. Upon closing, Friendable, Inc. will issue shares of Friendable common stock to Artist Republik and certain creditors of Artist Republik (the Seller) equal to 37% of the number of issued and outstanding shares of Friendable, Inc. on the day prior to closing. At the end of 12 months following the closing, in the event the number of shares issued to Seller at the closing has been diluted below 25% of the total outstanding common shares as of such date, Friendable, Inc. shall issue to the Seller that additional number of shares necessary so that the number of shares issued to Seller is not less than 25% of the then-total issued and outstanding shares of the Company. For a period of 12 months from the closing date, the holders of the shares issued pursuant to the acquisition agreement shall be limited to selling not more than 10% of the average daily trading volume, in the aggregate, on any given trading day. The transaction is subject to certain additional due diligence by Friendable, Inc. and the receipt of certain third-party consents and releases. Jonathan Leinwand of Jonathan D Leinwand P A acted as legal advisor to Friendable, Inc., Inc. David Hirsch of Hinckley, Allen & Snyder LLP acted as legal advisor to Artist Republik.
Friendable, Inc. (OTCPK:FDBL) completed the acquisition of substantially all the assets of Artist Republik Inc. for $0.69 million on January 4, 2022. As consideration, Friendable, Inc. issued 176.98 million shares to Artist Republik and certain creditors of Artist Republik.
Friendable, Inc. is a mobile-focused technology and marketing company. The Company is focused on connecting and engaging users through its applications. The Companyâs flagship product Fan Pass, which is a mobile platform that is engaged in engaging in music fans from anywhere around the World with the music artists featured on the FanPassLive App. It connects the fans of their favorite celebrity or artist, to a very important person (VIP) or backstage experience, right from their smartphone or other connected devices. Fan Pass. Fan Pass application includes various features, such as UX (user experience) and UI (user interface) attributes, upgraded feature sets for artists and fans, an accelerated artist on boarding process, and enhanced dashboard features. Fan Pass v2.0 is also accessible via desktop and Web applications. FanPassLive offers artists at all levels and genres engaging fans from one platform, removing the need for multiple sharing platforms.