Element Global, Inc. (ELGL) Announces Signing MOU With Bioforce Nanosciences Holdings, Inc. (BFNH)

Rhea-AI Summary

Element Global, Inc. (OTC: ELGL) has signed a Memorandum of Understanding with Bioforce Nanosciences Holdings, Inc. (OTCPink: BFNH), which aims for BFNH to acquire all assets owned by ELGL. The transaction is contingent upon due diligence and will be finalized with a definitive agreement. The companies expect to close the deal quickly. Bioforce's CEO, Merle Ferguson, expressed confidence in the merger, anticipating enhanced financing capabilities and improved market performance for both entities.

Positive

• Potential asset acquisition by Bioforce Nanosciences could enhance ELGL's market positioning.
• The merger may improve financing capabilities and market performance by leveraging Bioforce's public platform.

Negative

• The transaction is subject to due diligence, introducing uncertainty regarding its completion.
• No financial metrics are presented to support the potential value of the transaction.

VIRGINIA BEACH, Va., June 02, 2021 (GLOBE NEWSWIRE) -- Element Global, Inc. (OTC: ELGL) announces that it has entered into Memorandum of Understanding (MOU) with Bioforce Nanosciences Holdings, Inc. (OTCPink:BFNH). This MOU contemplates a proposed transaction between the entities that provides for BFNH to acquire all of the assets controlled by ELGL. The closing of the transaction is subject to due diligence and the execution of a definitive agreement. The parties anticipate closing the transaction as soon as possible.

Merle Ferguson, CEO, Bioforce Nanosciences Holdings states, “We are pleased with the opportunity to build our Company by combining with ELGL, and utilizing BFNH’s public platform to expand on financing capabilities and market performances. We look forward to an expeditious closing.”

For further information about this release, contact Richard Kaiser, 757-306-6090, info@bioforceeclipse, yes@yesinternational, www.yesinternational.com and www.bioforceeclipse.com and www.elementglobal.com.

About Element Global, Inc.

Element Global, Inc. (ELGL: OTC) is a publicly traded holding company with business interests in mining, renewable energy, technology, sports and media. Its mission is to assemble a group of world class companies that complement each other with the ability to capitalize on both domestic and international opportunities in these sectors and beyond. As new energy and smart digital technologies converge globally, ELGL is positioned to be a leading holding company and positioned to deliver on the global demand in these markets- https://elementglobal.com/

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are subject to uncertainty and may not come to fruition. Readers are cautioned not to place undue reliance on any forward-looking statement including statements that list numbers and dates.

CONTACT:  Bioforce Nanosciences Holdings, Inc.- Rich Kaiser, 757-306-6090     

FAQ

What is happening with Element Global (ELGL) and Bioforce Nanosciences (BFNH)?

Element Global has entered a Memorandum of Understanding with Bioforce Nanosciences for BFNH to acquire ELGL's assets, pending due diligence.

When is the expected closing date for the ELGL and BFNH transaction?

The companies anticipate closing the transaction as soon as possible, but a specific date depends on due diligence.

What impact does the MOU have on ELGL's stock performance?

The MOU may positively influence ELGL's stock performance by potentially enhancing its market position and financing capabilities.

Who commented on the acquisition between ELGL and BFNH?

Merle Ferguson, CEO of Bioforce Nanosciences, expressed optimism about the acquisition and its benefits for market performance.

What are the next steps for ELGL and BFNH after the MOU?

Both companies will conduct due diligence before executing a definitive agreement to finalize the asset acquisition.