ABT Mining Co. Inc. (OTCPK:ABOT) entered into a letter of intent to acquire unknown controlling interest in Scoobeez on July 30, 2015. On August 24, 2015, ABT Mining Co. Inc. (OTCPK:ABOT) entered into a purchase agreement to acquire 76% stake in Scoobeez from Benjamin Art and Grigori Sedrakyan for $1.3 million. The aggregate consideration of $1.296 million consists of two convertible notes of $1.2 million, with the first convertible note to be issued to Benjamin Art for $0.72 million and the second convertible note to be issued to Grigori Sedrakyan for $0.48 million, and the third cash to Grigori Sedrakyan for $0.06 million to be paid in 360 days, and $0.036 million in cash to the sellers no later than 30 days from the closing date of this agreement. The transaction is expected to close on August 27, 2015.

ABT Mining Co. Inc. (OTCPK:ABOT) completed the acquisition of 76% stake in Scoobeez from Benjamin Art and Grigori Sedrakyan on August 27, 2015.