VANCOUVER, British Columbia, March 14, 2019 (GLOBE NEWSWIRE) -- Kona Bay Technologies Inc. (“Kona Bay” or the “Company”) (TSXV: KBY) is pleased to announce that it has entered into a binding letter of intent dated March 8, 2019 (the “LOI”) with PropGO, whereby Kona Bay is proposing to acquire 100% of PropGo by way of a reverse takeover of Kona Bay by PropGo (the “Proposed Transaction”), with the resulting company (the “Resulting Issuer”) operating under the name “PropGo Media Technologies Corp.,” or such other name as may be approved by the board and the TSX Venture Exchange (the “Exchange”) and carrying on the business of PropGo as currently constituted. In connection with the Proposed Transaction, the Resulting Issuer will apply to list its common shares on the Exchange as a technology company.
“We are excited to announce that PropGOLuxury.com (a PropGO brand) is preparing to list on the TSXV Toronto Stock Exchange via a RTO (Reverse Take Over) of publicly listed Kona Bay Technologies.
What does this mean for PropGOLuxury.com elite audience of luxury property buyers and advertisers?
This means that our audience can expect a more robust experience and deeper volume of luxury property listings, news, research articles and services.
Our advertisers can expect better tools to more precisely reach elite global luxury property consumers seeking your bespoke product and services.
Furthermore, PropGOLuxury.com will open a series of dedicated sales and support offices located across North America, Europe, and Asia providing our expanding list of real estate enterprise clients with seamless 24/7 global coverage and support to grow their businesses in their home markets and globally.
We will also look to expand rapidly in the greater China and Asia Pacific region in particular via strategic Mergers and Acquisitions of highly synergistic companies in the real estate Media, PropTech, and Mortgage services spaces in particular.
We look forward to delivering more exciting updates and announcements in the weeks ahead, says George Varvitsiotis (CEO of PropGO / PropGOLuxury.com)
For more information:
Contact: George Varvitisotis, LinkedIn
For Press and Investor Relations:
Contact: Lawrence Lo