Interfield Software Solutions LLC entered into a letter of intent to acquire CMX Gold & Silver Corp. (DB:6GS) in a reverse merger transaction.
Upon completion of the transaction, CMX Gold & Silver Corp.'s Directors will resign and the new Board of Directors of the company (the Resulting Issuer) will be comprised of directors appointed by Interfield Software Solutions. Hal Hemmerich, the current Chief Executive Officer of Interfield Software Solutions, will be the Chief Executive Officer of the resulting Issuer. The transaction will be subject to a number of terms and conditions, including, but not limited to: the parties entering into a definitive agreement with respect to the transaction (such agreement to include representations, warranties, conditions and covenants typical for a transaction of this nature); the completion of satisfactory due diligence investigations by the parties; receipt of all necessary board and shareholder approvals; completion of the financings and receipt of the approval of the CSE. As of November 29, 2019, CMX signed an amendment to the letter of intent, whereby they have decided to extend the closing and exclusivity date to January 31, 2020. As per announcement on May 8, 2020, CMX Gold & Silver has filed a Listing Application with the CSE for approval of the transaction and in March 2020, Interfield advised CMX that the concurrent financing it was arranging was placed on hold given the current financial markets environment resulting from the COVID-19 pandemic crisis.