December 11, 2017 / 1:26 PM / 10 months ago

BRIEF-Cresval Capital Says Entered Into A Non-Binding LoI To Complete A Business Combination With Tess Inc

Dec 11 (Reuters) - Cresval Capital Corp:

* CRESVAL CAPITAL CORP SAYS HAS ENTERED INTO A NON-BINDING LETTER OF INTENT TO COMPLETE A BUSINESS COMBINATION WITH TESS INC, A UNIT OF RIOT BLOCKCHAIN

* CRESVAL - ‍AS PART OF PROPOSED DEAL, TESSPAY INTENDS TO COMPLETE PRIVATE PLACEMENT OF UNSECURED CONVERTIBLE NOTE FOR GROSS PROCEEDS OF UP TO $3.5 MILLION​

* CRESVAL CAPITAL CORP - CRESVAL TO CONTINUE TO HOLD ALL ITS RESOURCE PROPERTIES AND ALL OF ITS LIABILITIES, WITH ITS SHARES LISTED SEPARATELY ON TSXV

* CRESVAL-‍IF COMPLETED,PROPOSED DEAL TO CREATE TESSPAY AS SEPARATE,STAND-ALONE,LISTED CORP; ALL CRESVAL SHAREHOLDERS ALSO BECOMING TESSPAY​ SHAREHOLDERS

* CRESVAL - ‍PROPOSED DEAL WILL RESULT IN TESS AS NEW RESULTING ISSUER, BEING LISTED ON TSX VENTURE EXCHANGE AND CHANGING NAME TO TESSPAY INC​ Source text for Eikon: Further company coverage:

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