Quetzal Capital has signed a sales and purchase agreement for the acquisition of cryptocurrency payment app TAP Global by way of a reverse takeover.
Completion of the reverse takeover will remain conditional on the approval of the proposed acquisition and fundraising by Quetzal Capital’s existing shareholders and admission of the enlarged share capital to trading on the Access segment of the AQSE Growth Market. Consideration to TAP Global’s existing shareholders will be 450mln ordinary shares in Quetzal.
As a result of the sales and purchase agreement having been signed, shares in Quetzal have been suspended from trading in accordance with the AQSE rules.
In a statement, John Taylor, chairman of Quetzal Capital, said: “We are delighted to have announced the signing of an SPA with the shareholders of TAP Global.
“TAP Global continues to make excellent progress in its development and is benefitting from the wider turmoil in the mostly unregulated crypto business environment.
“As we enter the final phase of fundraising to secure this exciting transaction, we look forward to providing the market with further announcements on the progress of the reverse takeover transaction.”