BRIEF-Cresval Capital Says Entered Into A Non-Binding LoI To Complete A Business Combination With Tess Inc
Dec 11 (Reuters) - Cresval Capital Corp:
* CRESVAL CAPITAL CORP SAYS HAS ENTERED INTO A NON-BINDING LETTER OF INTENT TO COMPLETE A BUSINESS COMBINATION WITH TESS INC, A UNIT OF RIOT BLOCKCHAIN
* CRESVAL - ‍AS PART OF PROPOSED DEAL, TESSPAY INTENDS TO COMPLETE PRIVATE PLACEMENT OF UNSECURED CONVERTIBLE NOTE FOR GROSS PROCEEDS OF UP TO $3.5 MILLION​
* CRESVAL CAPITAL CORP - CRESVAL TO CONTINUE TO HOLD ALL ITS RESOURCE PROPERTIES AND ALL OF ITS LIABILITIES, WITH ITS SHARES LISTED SEPARATELY ON TSXV
* CRESVAL-‍IF COMPLETED,PROPOSED DEAL TO CREATE TESSPAY AS SEPARATE,STAND-ALONE,LISTED CORP; ALL CRESVAL SHAREHOLDERS ALSO BECOMING TESSPAY​ SHAREHOLDERS
* CRESVAL - ‍PROPOSED DEAL WILL RESULT IN TESS AS NEW RESULTING ISSUER, BEING LISTED ON TSX VENTURE EXCHANGE AND CHANGING NAME TO TESSPAY INC​ Source text for Eikon: Further company coverage: