DigitalTown, Inc. (OTCMKTS:DGTW) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into Definitive Agreement
On October 9, 2017, DigitalTown, Inc., a Minnesota corporation (the “Company”) entered into an Agreement for the Purchase and sale of assets (the “Asset Purchase Agreement”) of Congo, Ltd., a Colorado corporation (“Congo”), dba JustLegal. to the Asset Purchase Agreement, the Company will acquire certain assets from Congo for a total purchase price of $1,275,000. In exchange for the assets purchased, the Company shall issue to Congo Three Million (3,000,000) shares of previously unissued Company restricted common stock at $.40 per share, plus pay Seventy-Five Thousand Dollars ($75,000) in cash at Closing. Closing is expected to occur on or before December 5, 2017. The Asset Purchase Agreement contains customary representations and warranties.
The foregoing description of the Asset Purchase Agreement is not complete and is qualified in its entirety by reference to the full text thereof, which is filed as Exhibit 10.01 to this Current Report on Form 8-K and incorporated by reference into this Item 1.01.
Section 9 Exhibits and Financial Statements
Item 1.01 Exhibits
Exhibit 10.1
Agreement and Plan of Asset Purchase
DigitalTown, Inc. ExhibitEX-10 2 congoagreement….To view the full exhibit click here
About DigitalTown, Inc. (OTCMKTS:DGTW)
DigitalTown, Inc. offers DigitalTown, a platform for hosted Smart City Management. DigitalTown is an integrated search, community and commerce platform for both Web and mobile devices. DigitalTown powers connected online communities that enable members of a community to find information, and acquire the goods and services they need locally where possible. Residents and visitors can use a DigitalTown powered search engine to access content, community and commerce from a search tool. If there are local vendors that can fulfill a product or service that relates to a search term, then these options are presented to the user. It provides community tools to keep community members connected. The DigitalTown platform provides merchants with turnkey solutions for online commerce. The DigitalTown platform creates online and mobile communities. The Company also provides local booking for local services across its network of DigitalTowns. It also offers dining and lodging services.