Crunchfish extend investment MOU with Socio
Crunchfish have today extended the Memorandum of Understanding with Socio for a potential financing of Crunchfish. Socio still intend to make an initial direct equity investment into Crunchfish for three million shares on market-based terms and conditions.
Crunchfish signed an MOU with Socio ApS to become part of a mobile telecom partnership for Africa in November 2022. The MOU included an intention from Socio ApS to make an initial direct equity investment into Crunchfish for three million shares on market-based terms and conditions by February 2023. Due to delays for Socio to get access to their financing, the investment into Crunchfish has not been completed.
The MOU signed in November 2023 expires March 31st for such investment and Crunchfish and Socio have today extended the MOU on the same terms to May 21st. This is the day before Crunchfish’s annual meeting when the mandate to the board in Crunchfish to direct shares to an external party from last year’s annual meeting expiries.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
The information was provided by the contact person above for publication on 31 March 2023 at 10:15 CET.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.