VANCOUVER, BC, Jan. 27, 2023
VANCOUVER, BC, Jan. 27, 2023 /PRNewswire/ – IDLE LIFESTYLE INC. (“IDLE” or the “Firm”) (CSE: IDLE.X) (FSE: 99L.F) (OTC: IDLSF) (previously Poda Holdings, Inc.) is happy to announce it has entered right into a non-binding letter of intent with Ultron Capital Corp. (“Ultron“), dated January 25, 2023 (the “LOI“) setting out the preliminary proposed phrases and circumstances pursuant to which the Firm and Ultron will impact a enterprise mixture that can end in a reverse takeover of the Firm by the shareholders of Ultron (the “Proposed Transaction“). The entity ensuing from the Proposed Transaction (the “Ensuing Issuer“) will proceed to hold on the enterprise of Ultron as a man-made intelligence expertise firm that makes use of machine studying and pure language processing to enhance effectivity, accuracy and decision-making within the schooling trade. The LOI was negotiated at arm’s size.
The Proposed Transaction will likely be structured as an amalgamation, association, takeover bid, share buy or different related type of transaction mutually acceptable to the Firm and Ultron. The Firm intends to situation a subsequent information launch with the excellent particulars relating to the Proposed Transaction, together with the proposed capitalization of the Ensuing Issuer, upon execution of the definitive settlement.
Completion of the Proposed Transaction is topic to quite a few circumstances, together with, however not restricted to, alternate and shareholder approval. There could be no assurance that the Proposed Transaction will likely be accomplished as at present contemplated, or in any respect.
On Behalf of the Board,
Patrick Grey
CEO and Director
IDLE Life-style Inc.
Toll-free North America: +1-833-879-7632
Exterior North America: +1-406-879-7632
[email protected]
www.idle-lifestyle.com
FORWARD-LOOKING STATEMENTS
This information launch comprises forward-looking info and statements (“forward-looking info”) throughout the which means of relevant Canadian securities laws, that aren’t primarily based on historic truth, together with, with out limitation, statements utilizing the phrases “believes”, “anticipates”, “plans”, “intends”, “will”, “ought to”, “expects”, “proceed”, “estimate”, “forecasts” and different related expressions. Readers are cautioned to not place undue reliance on forward-looking info. Precise outcomes and developments might differ materially from these contemplated by these statements relying on, amongst different issues, the dangers that the events might not proceed with the LOI and the Proposed Transaction; that the final word phrases of the LOI and the Proposed Transaction will differ from these which might be at present contemplated, and that the LOI and the Proposed Transaction is not going to be efficiently accomplished for any cause. The phrases and circumstances of the Proposed Transaction might change primarily based on the Firm’s due diligence. The Firm undertakes no obligation to touch upon evaluation, expectations or statements made by third-parties in respect of the Firm, its securities, or monetary, or working outcomes (as relevant). Though the Firm believes that the expectations mirrored in forward-looking info on this information launch are affordable, such ahead trying info has been primarily based on expectations, components and assumptions regarding future occasions which can show to be inaccurate and are topic to quite a few dangers and uncertainties, sure of that are past the Firm’s management. The forward-looking info contained on this information launch are expressly certified by this cautionary assertion and are made as of the date hereof. The Firm disclaims any intention had has no obligation or duty, besides as required by legislation, to replace or revise any ahead–trying info, whether or not on account of new info, future occasions or in any other case.
The Canadian Securities Alternate has not reviewed and doesn’t settle for duty for the adequacy or accuracy of the content material of this information launch.
View authentic content material:https://www.prnewswire.com/news-releases/idle-signs-letter-of-intent-for-reverse-takeover-with-artificial-intelligence-company-301732865.html
SOURCE Idle Life-style Inc.
