Crypto exchange EXMO and Canada's GoverMedia Plus Canada Corp reportedly signed a letter of intent (LOI) under which the latter will be able to negotiate the acquisition of the trading platform within the 180-day period. If the parties eventually sign a sale-purchase contract, EXMO brand will be retained and the exchange will be listed on the Canadian Stock Exchange.
"Pursuant to the LOI, the parties have agreed to use their best efforts to formulate a structure for the proposed transaction that is envisioned to comply with all necessary legal and regulatory requirements and be as cost-effective as possible," reads the company report.
Roland J. Bopp, CEO at GoverMedia Plus Canada Corp, said that with this merger, the number of active users may exceed 2 million, which will definitely boost both operating and financial performance of the company. Moreover, he added, this will provide firm background for further business expansion "European, North American and Asian markets".
"We are very excited about this partnership because it provides us deeper insights for decision-making purposes and brings our clients the best infrastructure and maximum security," commented Sergey Zhdanov, CEO of EXMO.
EXMO believes that this cooperation will help the platform to become "the most credible and reliable business in the crypto market".