Interfield Global Software Inc. (CBOE CA: IFSS) has entered into a non-binding letter of intent with JRL Energy Inc. for a business combination aimed at creating a more competitive and sustainable entity. JRL, a high-quality coal provider, will execute a private placement to raise up to USD 15 million concurrently with or prior to the transaction. The merger, structured as a share exchange, amalgamation, or other similar forms, will make Interfield the holding company for JRL. Upon closing, JRL’s shareholders will receive shares in the resulting issuer, listed on Cboe Canada. The agreement depends on several conditions, including due diligence, regulatory approvals, and listings. The parties anticipate numerous benefits including complementary strengths, operational efficiency, expanded market access, and innovation. The merger aligns with sustainable growth strategies and operational synergies, helping to optimize resource allocation and drive revenue growth. Interfield aims to leverage JRL’s industrial expertise with its tech solutions to meet the growing demand for responsible energy practices.

Software Development, Energy Production, Mining, Renewable Energy,Canada, United States, United Arab Emirates

https://www.globenewswire.com/news-release/2024/06/24/2903284/0/en/Interfield-Global-Software-Inc-Announces-Letter-of-Intent-with-JRL-Energy-Inc.html