Elite Data Services Enters Non-Binding Letter of Intent To Acquire Properties of Merit

Elite Data Services Inc. (OTC:DEAC) has entered into a non-binding Letter of Intent (LOI) to acquire one hundred percent ownership interest of Properties of Merit Inc.  in a stock purchase and share exchange agreement.
According to the press release:

POM is a mining operation owning a production interest in certain placer mining claims containing gold, silver and other precious metals in addition to rare earth elements located approximately 80 kilometers northeast of Vancouver in the lower Lillooet River Valley.
“Our due diligence team is making progress, and we look forward to completing a full analysis in the weeks to come to structure a definitive agreement,” said Charles Rimlinger, CEO. “This acquisition should accelerate our ability to secure new financing, drive revenue potential, and increase shareholder value.”
The LOI represents the parties’ mutual intentions to complete the necessary due diligence to negotiate a definitive agreement, anticipated to be completed on or before April 15, 2016. To date, no definitive agreement has been executed, nor does any guarantee exist that it will ever be.

Click here to read the full release.