RE:RE:RE:Who's the one?
Plank's Votigo to acquire company in sweepstakes sector
2021-12-23 13:05 ET - News Release
Mr. Laurie Baggio reports
PLANK ANNOUNCES THAT ITS SUBSIDIARY VOTIGO INC. HAS SIGNED A NON-BINDING LETTER OF INTENT AND TERM SHEET TO PURCHASE 100% OF A COMPANY IN THE SWEEPSTAKES SPACE
On Dec. 22, 2021, Plank Ventures Ltd. subsidiary Votigo Inc. signed a non-binding letter of intent and term sheet to purchase 100 per cent of a target in the sweepstakes and contest administration space. The non-binding purchase price for the interest is expected to be $1.65-million (U.S.), with a targeted close of Feb. 1, 2022. The company intends to finance the purchase with current cash on hand, but is also exploring additional methods of financing.
The target administers sweepstakes, games and contests. Services include: promotion concept evaluation, the development of official rules, legal services, state registrations, entry page development, judging services, winner selection, verification and notification, prize fulfilment and tax form issuance.