Canadian company GoverMedia Plus Canada will acquire U.K.-based cryptocurrency exchange Exmo per a recently signed a letter of intent, according to a joint press release.
GoverMedia has 180 days to negotiate the transaction. If completed by then, the merged entity “will continue to conduct business on the Exmo platform and will be listed on a stock exchange” not named in the release. GoverMedia Plus’ current shares trade for pennies on the Canadian Securities Exchange.
Sergey Zhdanov, CEO of Exmo, said the acquisition will “assist us to achieve one of our main targets: to become the most credible and reliable business on the cryptomarket.”