Logiq, Inc. (OTCPK:LGIQ) entered into share exchange agreement to acquire Park Place Payments, Inc. for $7 million on April 21, 2023. The company shall acquire all of the issued and outstanding shares of common stock of Park Place, and in exchange has committed to issue and sell an aggregate of 14.652798 million shares of common stock of the Company to Park Place, which are to be held in escrow and distributed to the stakeholders pursuant to the terms of the Share Exchange Agreement. A certain number of the exchange shares, being 9.768532 million shares, are subject to the achievement by Park Place of earnout provisions pursuant to the terms of the Share Exchange Agreement. Logiq acquired Park Place as a wholly owned subsidiary in an all-stock transaction valued at more than $6 million after the achievement of certain milestones. The transaction is approved by Logiq board of directors and shareholders and park place directors and shareholders.

Logiq, Inc. (OTCPK:LGIQ) completed the acquisition of Park Place Payments, Inc. on April 25, 2023.