$SMCE News! SMC Entertainment Divests Certain Non-
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Posted On: 03/10/2021 8:26:24 AM
$SMCE News! SMC Entertainment Divests Certain Non-Core Wireless Assets and Returns Shares to Treasury
SAN FRANCISCO, CA / ACCESSWIRE / March 8, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company"
(OTC PINK:SMCE), a provider of products and services for the entertainment industry, digital communications, and content distribution solutions, is pleased to announce that it has executed a divesture agreement ("Agreement" to divest its FiberSKY Networks, Inc. subsidiary ("FiberSKY" . Pursuant to the Agreement, SMC will return all assets relating to the FiberSKY acquisition including but not limited to FiberSKY stock, intellectual properties, marketing material, and website development to FiberSKY's original stakeholders ("FiberSKY Stakeholders" . In return, FiberSKY Stakeholders will return 20,000,000 shares of SMC's common stock to SMC's treasury for cancellation. As an inducement to facilitating the execution of the Agreement, SMC will issue 2,000,000 new restricted shares of SMC's common stock to FiberSKY Stakeholders. The restricted common shares will be issued in accordance with Rule 144 of the Securities and Exchange Commission.
https://finance.yahoo.com/news/smc-entertainm...00401.html
SAN FRANCISCO, CA / ACCESSWIRE / March 8, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company"
(OTC PINK:SMCE), a provider of products and services for the entertainment industry, digital communications, and content distribution solutions, is pleased to announce that it has executed a divesture agreement ("Agreement" to divest its FiberSKY Networks, Inc. subsidiary ("FiberSKY" . Pursuant to the Agreement, SMC will return all assets relating to the FiberSKY acquisition including but not limited to FiberSKY stock, intellectual properties, marketing material, and website development to FiberSKY's original stakeholders ("FiberSKY Stakeholders" . In return, FiberSKY Stakeholders will return 20,000,000 shares of SMC's common stock to SMC's treasury for cancellation. As an inducement to facilitating the execution of the Agreement, SMC will issue 2,000,000 new restricted shares of SMC's common stock to FiberSKY Stakeholders. The restricted common shares will be issued in accordance with Rule 144 of the Securities and Exchange Commission. https://finance.yahoo.com/news/smc-entertainm...00401.html
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