Ann: Update on LogiTag Acquisition, page-3

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chris1983

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15/12/15

15:14

Post #: 16618689
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Originally posted by bevter ↑

Update on Proposed Acquisition of LogiTag
Quantum Resources Limited (ASX:QUR) (Quantum or the Company) is pleased to provide an
update to shareholders on its proposed acquisition of the issued capital of LogiTag Systems
Limited (LogiTag), an Israeli based provider of radio-frequency identification enabled devices
and cloud based inventory management systems.
As announced to shareholders on 12 November 2015, Quantum and the vendors of LogiTag
have entered into an option agreement, under which the vendors have irrevocably granted to
Quantum an exclusive option to purchase 100% of the issued share capital in LogiTag (Option
Agreement). Pursuant to the Option Agreement, Quantum was granted an exclusive option
period of 30 days from 11 November 2015 (Option Period) to complete due diligence
investigations on LogiTag. During the Option Period, LogiTag and its vendors are subject to noshop
and standstill restrictions. Quantum is entitled to exercise the Call Option at any time during
the Option Period, upon which LogiTag’s vendors will be obliged to enter into a binding sale
agreement for Quantum’s purchase of their shares in LogiTag (Formal Share Sale Agreement).
Quantum is pleased to advise that its due diligence investigations have progressed well to date,
and the parties are in the process of negotiating terms of the Formal Share Sale Agreement.
The parties are jointly committed to finalising and executing the Formal Share Sale Agreement
on or before Friday 18 December 2015, and accordingly have mutually agreed to extend the
expiry date of the Option Period from 11 December 2015 to 18 December 2015.
Avi Kimelman, CEO of Quantum, said “During the last month, the respective teams at LogiTag
and Quantum have worked collaboratively to make significant progress with their due diligence
investigations. We are encouraged by the levels of co-operation and commitment that have been
demonstrated by all parties during this process, and are pleased that goodwill continues to be
built between the companies. We look forward to providing all shareholders with further updates
in respect of the proposed acquisition.“

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I've taken a position. I like the potential with these. Whether or not it will be a quick profit grab for me I'm not sure but I see gains being made from current price levels once the acquisition is completed.

QUR Price at posting: 6.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Ann: Update on LogiTag Acquisition, page-3

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Ann: Update on LogiTag Acquisition, page-3

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