New Wave Holdings Corp. (CNSX:SPOR) entered into a letter of intent to acquire BlockSt on February 15, 2022. Pursuant to the transaction, New Wave is expected to issue 23,500,000 common shares at a deemed price of $0.75 per share.

In addition, New Wave may issue up to an additional 3,000,000 common shares in the event that certain future milestones are achieved by BlockSt. The transaction is subject to satisfactory completion of due diligence, receipt of any required regulatory approvals, negotiation of definitive documentation and receipt of third party valuation of BCCO. The proposed transaction cannot be completed until these conditions have been satisfied.