News: Quintessential Resources acquiring technology incubator

Quintessential Resources (ASX:QRL) is acquiring global technology incubation company Yonder and Beyond Ltd, which holds a portfolio of assets.

Yonder and Beyond provides a collection of resources and expertise at group level to start-up companies in the mobile, technology and entertainment sectors.

This includes full time senior executives who specialise in areas that are often costly and inaccessible for start-ups such as digital strategies, business development, finance and human resources.

In consideration for the acquisition of Yonder and Beyond, Quintessential will issue 569,548,872 shares to Yonder and Beyond’s shareholders and 1.5 million options to their advisors.

Quintessential plans to continue funding its mineral tenements in Papua New Guinea.

Should its shareholders approve the acquisition of Yonder and Beyond, its new board will undertake a review of the assets to investigate opportunities for their divestment.