RED BANK, USA: TGI Solar, a diversified holding company, has acquired a license and rights to offer Worldlink's patent protected technology platform for the transfer of real time financial and other data to mobile devices.
TGI shall offer these products and services through its wholly owned subsidiary Worldlink Data Inc. (WLD). Neil A. Riches, Worldlink's founder and Managing Director, will join TGI's Board of Directors and assist with launching WLD in the US.
TGI shall pay for the purchase with its preferred stock, which will have convertibility option into common, upon reaching certain criteria, and will give Worldlink Group plc substantial equity position in TGI. Working capital to launch WLD shall be provided initially by Worldlink Group plc through arrangement with FMS Group, in the amount of Euro 5MM.
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