HHSE -- Sounds like they have locked down the merger and the $65,000,000 in financing with more details to follow pre-market tomorrow.
http://hannoverhousemovies.blogspot.com/
Here is the year end filing commenting on the merger and funding:
Quote:Sunday, April 16, 2017
Resolution of legal issues / concerns impacting new funding and structure for HHSE
Good Afternoon to HHSE Friends and Followers - Happy Easter, Happy Passover and Happy Sunday!
As forecasted within the year-end filing (period ended 12-31-2016) certain legal issues impacting the structure and receipt of substantial new funding for HHSE were resolved as of last Friday (April 14).
Additional details on this venture - and the substantial premium it delivers to HHSE shareholders - will be released pre-market tomorrow.
http://hannoverhousemovies.blogspot.com/
Here is the year end filing commenting on the merger and funding:
Quote:Item 11 A1-A6 – Supplemental Disclosures.
i). In a subsequent development occurring after the applicable time period covered in this filing, the Company and another fully registered public equity have mutually executed a letter of intent agreement for a corporate merger which will have significant impact to the financial strength, operations, profile and activities of the Company. The merger – which has been contemplated as a stock-for-stock swap, with Hannover House, Inc. shareholders collectively maintaining a majority stock interest and control – is a key structural element to accommodate the placement of an initial $65-mm in production and distribution financing arranged for by the merger partner. The Company and merger partner anticipate that the merger shall become effective following certain regulatory compliances and the remittance of specified payments to Company – both of which events are anticipated to be resolved on or before April 14, 2017. Management feels that this proposed merger will provide an immediate and significant premium value to HHSE shareholders, as well as position the Company to fill the currently open market niche’ for a domestic studio focusing on high-quality, mid-level theatrical features (with movies of the budgetary cost and commercial appeal such as “Get Out”, “Little Miss Sunshine”, “Lion” – e.g., quality independent films with budgets of $3-mm to $7-mm and USA box office values approaching $100-mm). Corporate counsel has advised management that the Company shall be obligated to disclose the merger partner and principal terms of the merger at such time that the legality and logistics of this proposed merger structure are determined to be acceptable, which issues are currently under review and are anticipated to be resolved on or before April 14, 2017. Upon formal closure of this corporate merger, as presently
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structured and anticipated by counsel and advisors, Company shall be a fully registered, fully reporting equity, with DTC approved stock trading and the opportunity to quickly uplist to NASDAQ.
