QuickCool AB (Publ): Board announces delay in completing potential “Reverse Take Over” of QuickCool by Esport company GameCubed Ltd. amid economic crisis brought about by Covid 19.
Spotlight announces decision to delist QuickCool as of April 17. The timetable for the proposed Transaction has been delayed by unexpected global economic crisis brought about by Covid 19.Proposed RTO delayed On 10 February 2020, QuickCool AB (“QuickCool”) entered into a letter of intent with Canadian Esport company CameCubed Ltd. (“GameCubed”) and its shareholders pursuant to which the shareholders of GameCubed agreed to transfer a 100% holding in GameCubed to QuickCool in exchange for newly issued QuickCool shares (the “Transaction”). GameCubed in turn has executed a binding SPA