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Trig Social Media AB (TRIG) Signs Head of Terms to Acquire Fantrac
Nacka Strand 2017-01-30
The Board of Directors of Trig Social Media AB are proud to announce that it has signed heads of terms regarding the acquisition of Fantrac Global Limited.
A full acquisition agreement is pending Fantrac shareholder approval and is expected to be completed before the end of February 2017. The companies have identified a range of synergetic elements paving the way for a series of acquisitions.
“Bringing Fantrac into our family is a strategical and tactical move that leverages and unlocks potential in both companies” comments Anthony Norman, Managing Director of Trig Social Media.
Trig will pay for the acquisition by issuing approximately 150 000 000 new shares with a performance based additional payment.
Fantrac is a well-established player within social media focusing on celebrities. Their website www.myfantrac.com has recently been updated and and Trig will integrate some of its technology in the next release.
“I believe this acquisition is a very welcome first step in the changes to Trig’s operational structure that were announced in 2016. As with many good things, these changes have taken time to finalize but we are looking forward to joining the management team of Trig and to bring the values of Fantrac to the Trig shareholders.” says Wayne Lochner, co-founder and Managing Director of Fantrac.