FogChain Announces Letter of Intent to Merge with Canadian Teleradiology Services Inc.

By admin

FogChain Corp. (“FogChain” or the “Company”) is pleased to announced that it has entered into a letter of intent (“LOI”) dated November 5, 2019 with Canadian Teleradiology Services, Inc. (“CTS”) pursuant to which Fogchain will acquire all of the outstanding shares of CTS pursuant to a share exchange agreement which will constitute a reverse takeover of the Company by Canadian Teleradiology Services Inc. (the “Transaction”) within the meaning of the policies of the Canadian Securities Exchange Inc. (the “CSE”). The resulting issuer (the “Resulting Issuer”) upon completion of the Transaction will change its name to some other name as acceptable to the parties and will operate the current business of Canadian Teleradiology Services Inc.