Christchurch, New Zealand, 29 May 2018
Powerhouse Ventures Limited (Powerhouse) is pleased to confirm that the shareholders of Motim Technologies Limited (Motim NZ) have approved the sale of substantially all of Motim NZ’s assets to Motim Technologies LLC, a new limited liability company established in Massachusetts, USA.
The approval of the transaction provides a pathway to the recognition of substantial value over the next two years as development milestones are progressively achieved by the new Management Team.
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