Montréal – TheNewswire - September 27, 2021 – ZeU Technologies, Inc. (CSE:ZEU) (CNSX:ZEU.CN) (OTC:ZEUCF) wishes to announce that it will unwind the Share Purchase Agreement with MoneyLine Sports Inc that had previously been reported in News Releases dated May 6, 2021, and August 11, 2021.
The Share Purchase Agreement was to acquire all of the issued and outstanding shares of MoneyLine Sports Inc and its wholly-owned subsidiary, MoneyLine Sports Acquisition Corp., through ZeU Gaming Inc., a wholly-owned subsidiary of ZeU Technologies, Inc, for a total consideration of CDN$1,501,500.
As per the date of this press release, ZeU has not completed the due diligence required to finalize the transaction and has received notice from MoneyLine management on Friday, September 24, of their intent to withdraw from the proposed transaction. ZeU’s management will take the actions required to unwind the transaction. No securities have been issued in relation to this proposed transaction.
ON BEHALF OF THE BOARD OF DIRECTORS
Frank Dumas President & CEO
ZeU is a forward-thinking Canadian technology company that has developed a state-of-the-art DLT protocol, providing the foundation for the next generation of encrypted and distributed networks. Thanks to its high level of sophistication, ZeU’s technology maximizes transparency, security and scalability as well as big data management. ZeU’s strategy is to monetize DLT transactions in diverse sectors such as payment, gaming, data, and healthcare.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.