Sack Lunch Productions, Inc. (OTCPK:SAKL) signed a letter of intent to acquire substantially all assets of Cool Events, LLC on October 3, 2017. The letter of intent outlines a transaction that contemplates the issuance of a secured promissory note for $5 million and the issuance of restricted Series A Preferred Stock with a face value of $9.7 million. The transaction also calls for the transfer of certain common and others shares to be transferred to the owners of Cool Events. The Cool Event brands including: Terrain Race, The Bubble Run, Black Light Run, Foam Glow, and Black Light Slide generated over $20 million in gross revenues for the year ended December 31, 2016. The letter of intent further calls for the appointment of William Spata to the position of Chief Financial Officer and Director, as well as the appointment of Brogg Sterrett as an Executive Vice President of Operations and Director. Cool Events team will continue to operate after the transaction. As of October 12, 2017, the transaction is expected to close by the end of the year 2017.