Sebastiani Ventures Enters Letter of Intent to Acquire Artificial Intelligence Company, Evokai Creative Labs Inc

Aug 18, 2022

VANCOUVER, BC / ACCESSWIRE / August 17, 2022 / Sebastiani Ventures Corp. ("Sebastiani" or the "Company") (TSXV:SBS.H, Financial) is pleased to announce that it has entered into a binding letter of intent (the "LOI") with EvokAI Creative Labs Inc. ("EvokAI") dated effective August 16, 2022. The LOI outlines the general terms and conditions pursuant to which Sebastiani and EvokAI will effect a business combination that will result in a reverse takeover of Sebastiani by the securityholders of EvokAI (the "Proposed Transaction"). Sebastiani previously entered into a licensing agreement with EvokAI on June 6, 2022, which provided it with the non-exclusive right to pursue strategic partnerships for commercial applications of EvokAI's technology on a worldwide basis. The LOI was negotiated at arm's length.

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