|By Marketwired .||
|March 17, 2014 12:38 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/17/14 -- Remo Resources Inc. (the "Company" or "Remo") (TSX VENTURE:RER) announces that it has entered into a letter of intent dated March 14, 2014 for the Company to acquire all of the issued and outstanding securities of Identillect Technologies Inc. ("Identillect"), an arm's length party, by way of a three-cornered amalgamation or plan of arrangement (the "Acquisition").
Identillect is a privately held technology company, incorporated under the laws of Nevada, with operations in Orange County, California. Its controlling shareholder is its founder and Chief Executive Officer, Todd Sexton.
Identillect has a proprietary email encryption delivery technology targeted at organizations of all sizes, as well as individuals. Messages are secured with the click of a button, ensuring their safety while in transit. In addition, Identillect empowers senders to maintain control of their messages by restricting recipients' printing/forwarding/viewing privileges, as well securing all replies from the recipients, without requiring them to register.
Prior to the Acquisition, Remo will complete a 1.35:1 consolidation of its common shares. Pursuant to the Acquisition, Remo will issue an aggregate of 20 million post-consolidation common shares to the shareholders of Identillect in exchange for all of the issued and outstanding shares of Identillect. Up to an additional 5 million common shares of Remo will be issuable on the achievement of certain agreed revenue milestones during each of the two years following the closing, for a total of up to 10 million shares. Convertible securities of both companies will also be amended. Certain securities of the merged entities will also be subject to pooling agreements on terms to be agreed by the parties.
Concurrently with the proposed Acquisition, Remo intends to complete a private placement financing for proceeds of not less than $1,750,000 (the "Financing"), on terms to be agreed.
Following completion of the Acquisition, the Company's Board will be reconstituted to include Todd Sexton, the current President and CEO of Identillect; Jeff Durno, the current Chairman of Identillect; Mike Iverson, a current director of Identillect; and two other persons to be mutually agreed upon by the parties.
The Acquisition will constitute a Change of Business for the Company under the policies of the TSX Venture Exchange (the "Exchange"). The letter of intent does not obligate Remo to complete the Acquisition and closing of the Acquisition remains subject to a number of conditions, including the completion of satisfactory due diligence, the entering into of definitive agreements, the completion of the Financing, receipt of all required shareholder, regulatory and third party consents, including Exchange approval, and satisfaction of other customary closing conditions. The Acquisition cannot close until the required approvals are obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. If required pursuant to Exchange Policy 2.2, the Company will retain a sponsor in connection with the Acquisition.
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the Acquisition, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of Remo should be considered highly speculative. Trading in the common shares of Remo will remain halted pending further filings with the Exchange.
Further details on the constitution of the new Board and management and any additional information required pursuant to the policies of the Exchange will be announced or disclosed in additional disclosure documents once finalized.
On behalf of the Board of Directors
REMO RESOURCES INC.
/s/ Stephen Kenwood
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes statements that constitute "forward-looking information". Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding the proposed consolidation, Acquisition and Financing, and the resumption of trading of the Company's common shares on the TSXV are subject to the conditions described in this news release and all of the risks and uncertainties normally incident to such transactions and events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking information in this news release. Such forward-looking information represents management's best judgment based on information currently available. The Company does not update forward-looking information, except as required by applicable laws.
Remo Resources Inc.
President, Chief Executive Officer, Corporate Secretary and
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 30, 2017 02:15 AM EDT Reads: 4,092
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 30, 2017 01:30 AM EDT Reads: 2,615
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 30, 2017 01:15 AM EDT Reads: 1,214
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Mar. 30, 2017 01:00 AM EDT Reads: 8,295
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Mar. 30, 2017 12:45 AM EDT Reads: 658
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 30, 2017 12:30 AM EDT Reads: 1,524
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Mar. 30, 2017 12:15 AM EDT Reads: 3,567
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
Mar. 29, 2017 11:45 PM EDT Reads: 3,226
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 29, 2017 09:30 PM EDT Reads: 2,458
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 29, 2017 07:30 PM EDT Reads: 921
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Mar. 29, 2017 06:30 PM EDT Reads: 2,764
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Mar. 29, 2017 05:15 PM EDT Reads: 3,836
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 29, 2017 04:30 PM EDT Reads: 1,709
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 29, 2017 04:15 PM EDT Reads: 3,920
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 29, 2017 04:00 PM EDT Reads: 3,249