GoLogiq, Inc. signed a non-binding letter of intent to acquire 100% stake in Fram Venture 7 Ab from Fram Skandinavien AB (OM:FRAM B) for $20 million.
August 16, 2023
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GoLogiq, Inc. (OTCPK:GOLQ) signed a non-binding letter of intent to acquire 100% stake in Fram Venture 7 Ab from Fram Skandinavien AB (publ) (OM:FRAM B) for $20 million on August 17, 2023. As part of agreement $6 million will pay as upfront and remaining $14 million will pay as earnout depending upon the achievement of certain targets in the form of stock. The acquisition includes all of Fram Venture 7?s equity interest in its wholly-owned subsidiary, DragonLend.
Under the terms of the letter of intent Fram Venture 7 secure employment agreements with management. The transaction is expected to close in September 2023.
GoLogiq, Inc. is a global provider of financial technology (fintech) and mobile solutions for digital transformation and consumer data analytics. The Companyâs software platforms are comprised of CreateApp, which is a mobile app development and publishing platform for small-to-medium sized businesses (SMBs); AtozGo, which is an app-based delivery platform; AtozPay, which is an e-wallet for mobile top-ups, e-commerce purchases, bill payment, and microfinance; and Radix, a big data analytics platform. Through the Companyâs subsidiary, GenFi Financial Group, Inc., and its subsidiaries (GENFI Group), it provides wealth management, direct-to-consumer lending platforms, mortgage broking, accounting, taxation advice, reporting, structuring, and solutions for individual investors and small-to-medium businesses in Australia. It also offers compliance services, including advice regarding managed investment schemes (MIS), self-managed superannuation funds (SMSF), and other ancillary services.
GOLOGIQ, INC. 
