Live Current Media, Inc. (OTCPK:LIVC) signed a letter of intent to acquire Total Communicator Solutions, Inc. on June 12, 2023. The transaction is an all-stock transaction. At the closing, the current board of directors of Live Current will resign and a new board will be appointed that will include Mark Ollila, Erik Bjontegard, Heidi Steiger, two directors nominated by Heidi Steiger and two directors nominated by Erik Bjontegard representing TCS.

Erik Bjontegard will become President and Mark Ollila will continue as CEO. Pursuant to the terms of the LOI, the parties intend to sign a definitive agreement by July 27, 2023. Conditions precedent to signing of a definitive agreement include completing due diligence by both parties, any shareholder approvals required and TCS completing an audit of its books.

Final terms of the transaction will be disclosed upon signing of the definitive agreement.