PRHLPearl River Holdings Limited (Canada)
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Under the deal, AOTS will issue an aggregate of 19.25m shares of its common stock to PRHL in exchange for 100% of the membership interests of each of TPC and AIC.
The closing of this Share Exchange is subject to customary closing conditions, including, without limitation, such other conditions such as approval of the stockholders of AOTS and PRHL, if applicable, consummation of a private placement offering by AOTS in the amount of no less than USD 1m of its common stock, and other conditions.
This newly acquired supplier will soon begin supplying power to PRHL's customers, and will recruit additional resellers of deregulated power and provide them with its proprietary sales tool, the Energy Services Portal which is a web-based platform that will streamline sales efforts, enforce compliance, and increase productivity.