An unknown buyer submitted a non-binding term sheet to acquire Liquid Media Group Ltd. (NasdaqCM:YVR) in a reverse merger transaction on August 14, 2023. Under the terms of the LOI, buyer would merge with Liquid Media Group in a stock-for-stock reverse merger transaction, in which buyer will survive as a wholly-owned subsidiary of Liquid. Under the terms of the LOI, Liquid Media Group would retain 25% of the post-merger entity, and the shareholders of buyer would own 75%.