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DENVER - Pure Harvest Corporate Group, Inc. (OTC:PHCG), which has seen its stock surge over 200% in the past year according to InvestingPro data, has signed a letter of intent to acquire Mixie IP Holdings, LLC and Mixie Labs, LLC, according to a company press release issued Tuesday.
The proposed acquisition involves PHCG purchasing 100% membership interests in both entities using preferred equity and warrants, with no cash component anticipated. The companies are expected to become wholly owned subsidiaries of Pure Harvest, which currently has a market capitalization of $0.72 million, following the completion of a definitive agreement.
The acquisition would provide PHCG with a technology portfolio focused on intelligent video processing, AI-enabled applications, and immersive interfaces. The technology assets include software for media transport, machine learning pipelines, edge inference, and augmented/virtual reality interfaces.
"The wealth of IP being acquired, and the experience that comes with it, positions PHCG to explore opportunities in interactive data visualization, digital twin applications, advanced video delivery, and interactive training across several markets," said Richard Hawkins, Chief Executive Officer of PHCG.
Following the closing, Darshan Sedani and Teodros Gessesse, the managing members of Mixie IP Holdings, are expected to join PHCG’s Board of Directors and enter into advisory agreements to support integration and commercialization efforts.
The companies indicated they are working to finalize the definitive agreement, subject to customary approvals and conditions. No specific timeline for closing was provided.
Pure Harvest Corporate Group operates as a diversified holding company focused on strategic acquisitions across various sectors. Mixie IP Holdings and Mixie Labs are currently wholly owned by IntelliNovus Holdings, LLC.
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