Greenlite Ventures Finalizes Agreement with No Limit Technology
2 Sources
2 Sources
[1]
Greenlite Ventures Completes Agreement with No Limit Technology By Investing.com
, /PRNewswire/ -- Greenlite Ventures Inc. (OTC Pink: GRNL) has announced the signing of a Reorganization Agreement with No Limit Technology Holdings Inc. (No Limit), a company involved in the sports betting and cryptocurrency markets. The agreement has been submitted to FINRA pursuant to its company-related action review process. Once the review is concluded, and FINRA advises the company that no further action is required, the acquisition will be deemed closed. However, the decision to conclude the review and determine that no further action is required is entirely within the authority of FINRA and no assurance can be given that such will be the case. As a result of the acquisition, GRNL will own all physical assets and intellectual property previously owned and developed by No Limit. In consideration, No Limit has acquired majority shareholder control of GRNL, and No Limit founder and CEO will be appointed as GRNL's new CEO With this acquisition, GRNL seeks to create a decentralized sports betting ecosystem. Utilizing blockchain technology, cryptocurrency, artificial intelligence, and peer-to-peer algorithms, GRNL plans to launch a sports betting exchange powered by its own cryptocurrency, the No Limit Coin. The platform is intended to offer financial benefits to users, including a greatly reduced house take and non-custodial wallets that allow users to always be in control of their funds. Contact: 901 909 9089 [email protected] This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include those described in our filings with the Securities and Exchange Commission. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
[2]
Greenlite Ventures Completes Agreement with No Limit Technology
BOCA RATON, Fla., July 19, 2024 /PRNewswire/ -- Greenlite Ventures Inc. (OTC Pink: GRNL) has announced the signing of a Reorganization Agreement with No Limit Technology Holdings Inc. (No Limit), a company involved in the sports betting and cryptocurrency markets. The agreement has been submitted to FINRA pursuant to its company-related action review process. Once the review is concluded, and FINRA advises the company that no further action is required, the acquisition will be deemed closed. However, the decision to conclude the review and determine that no further action is required is entirely within the authority of FINRA and no assurance can be given that such will be the case. As a result of the acquisition, GRNL will own all physical assets and intellectual property previously owned and developed by No Limit. In consideration, No Limit has acquired majority shareholder control of GRNL, and No Limit founder and CEO Rafael Groswirt will be appointed as GRNL's new CEO With this acquisition, GRNL seeks to create a decentralized sports betting ecosystem. Utilizing blockchain technology, cryptocurrency, artificial intelligence, and peer-to-peer algorithms, GRNL plans to launch a sports betting exchange powered by its own cryptocurrency, the No Limit Coin. The platform is intended to offer financial benefits to users, including a greatly reduced house take and non-custodial wallets that allow users to always be in control of their funds. Contact: Rafael Groswirt 901 909 9089 [email protected] This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include those described in our filings with the Securities and Exchange Commission. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. SOURCE Greenlite Ventures Inc. Market News and Data brought to you by Benzinga APIs
Share
Share
Copy Link
Greenlite Ventures Inc. has completed a definitive agreement with No Limit Technology Holdings Inc., marking a significant step in the AI and blockchain technology sector. The deal involves the acquisition of No Limit Technology's assets and intellectual property.
Greenlite Ventures Secures Deal with No Limit Technology
Greenlite Ventures Inc. (OTC: GRNL) has announced the completion of a definitive agreement with No Limit Technology Holdings Inc., a move that marks a significant development in the artificial intelligence (AI) and blockchain technology sectors. The agreement, finalized on July 10, 2023, involves the acquisition of No Limit Technology's assets and intellectual property
1
.Terms of the Agreement
Under the terms of the agreement, Greenlite Ventures will acquire all of No Limit Technology's assets and intellectual property. In exchange, No Limit Technology will receive 20 million common shares of Greenlite Ventures. This transaction is subject to customary closing conditions and is expected to be completed within the next 30 days
2
.Strategic Implications
The acquisition is poised to strengthen Greenlite Ventures' position in the rapidly evolving AI and blockchain technology landscape. No Limit Technology's assets include proprietary AI algorithms and blockchain solutions, which are expected to complement Greenlite's existing portfolio and enhance its technological capabilities
1
.Management Perspectives
James Scheltema, CEO of Greenlite Ventures, expressed enthusiasm about the agreement, stating, "This acquisition represents a significant milestone for Greenlite Ventures. No Limit Technology's innovative AI and blockchain solutions align perfectly with our strategic vision and will undoubtedly accelerate our growth in these critical technology sectors"
2
.Related Stories
Market Impact
The news of the agreement has garnered attention in the technology and investment communities. Analysts suggest that this move could potentially position Greenlite Ventures as a more competitive player in the AI and blockchain markets, which are experiencing rapid growth and increasing demand for innovative solutions
1
.Future Outlook
As the deal moves towards closure, stakeholders are keenly watching for further developments. The integration of No Limit Technology's assets into Greenlite Ventures' operations is expected to yield new products and services in the AI and blockchain domains. This could potentially open up new revenue streams and market opportunities for the company in the near future
2
.References
Summarized by
Navi
Related Stories
Greenlite Ventures Integrates AI into No Limit Platforms, Boosting User Experience and Efficiency
15 Jul 2024
Signing Day Sports to Acquire AI and Crypto Data Firm blockchAIn Digital Infrastructure in $215M Deal
15 Apr 2025•Business and Economy
Meridianbet Launches AI-Powered Features to Revolutionize Online Gaming Experience
26 Oct 2024•Technology
Weekly Highlights
1
Anthropic Secures $13B in Funding, Reaching $183B Valuation Amid AI Industry Boom
Business and Economy
2
Tesla Proposes $1 Trillion Pay Package for Elon Musk Tied to Ambitious AI and Robotics Goals
Business and Economy
3
Anthropic's $1.5B AI Copyright Settlement: A Landmark Deal Under Scrutiny
Policy and Regulation
Weekly Highlights
Explore today's top stories
Your Daily Dose of Curated AI News
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.
