NameSilo Technologies Corp. Enters into Letter of Intent to Sell NameSilo LLC

VANCOUVER, BRITISH COLUMBIA - TheNewswire – Dec 2 , 2020 – NameSilo Technologies Corp. (CSE:URL) (CNSX:URL.CN) PINKSHEETS (OTC :URLOF) (the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (the “Letter of Intent”) with WGH Holdings B.V. (the “Buyer”) whereby the Buyer, subject to the entry into a definitive agreement, will acquire all of the Company’s interest in NameSilo LLC.

The transaction consideration will be approximately US$ 30 Million (the “Consideration”). The total consideration was based on a revenue multiple of 1.2 from the estimated 2020 financial year end. Of the Consideration, US$ 15 Million will be paid on closing and the remaining US $15 Million will be satisfied by three annual deferred payments of US$ 5 Million each (the “Deferred Payments”). As the Company currently owns 81.5% of NameSilo LLC, its gross consideration under the transaction is anticipated to be US $24.45 Million.

The Deferred Payments will also be secured by the units of NameSilo LLC. In the event of default by the Buyer, the membership interest in NameSilo LLC will be returned to the Company.

The Buyer will have 60 days to carry out its financial and legal due diligence of NameSilo LLC and, in consideration of which, NameSilo has granted exclusivity to the Buyer.

NameSilo LLC CEO Kristaps Ronka states: “We believe that this potential transaction is a natural evolution for NameSilo and we want to ensure our loyal clients that our team will continue to manage and drive the NameSilo business post-transaction and will continue to work tirelessly to provide our customers with best in class services and support for the years to come.”

https://stockhouse.com/news/press-r...rs-into-letter-of-intent-to-sell-namesilo-llc

 

Think the buyer wants to buy my crappy names? I'd accept regular payments.

 

Is this the right entity?

WGH Holdings B.V.
Company Number 80798543
Company Type Besloten Vennootschap
Netherlands

 

Yes

 

URLOF is their stock which trades OTC Mkts.
Below is one day chart; stock reacted badly?
What happened? Is NS stock buy at 20 cents?

 

Why is namesilo selling off? It's one of the top registrars that domainers trust.

 

Selling off again.

 

Newly formed holding, on the board another Dutch financial holding. Curious to see where the trail ends.

The Dutch taking over the world? Evil geniuses

 

Hmm, why do they have a parent company also named namesilo that for some reason owns petroleum companies?

 

Another Internet gathering has come into being