FRONTERA GROUP INC.: M&A transaction — Frontera Group acquires 24.9% of Texas G&S Investments for $25M

FRONTERA GROUP INC.

Purchase price of $25,000,000 for 249 shares (24.9% stake) of TGSI; seller Guillermo Solis, Jr. provides 100% financing via a promissory note.
Seller retains voting proxy on acquired shares until purchase price is fully paid.
Company issued 3,500,000 restricted common shares to RGV Fintech Joint Venture for assignment of contract rights.
Transaction closed in stages; final documents delivered June 12, 2023.
Seller retains pledge and security interest in the TGSI stock until full payment.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FRONTERA GROUP INC. completed an acquisition involving Guillermo Solis, Jr. for $25,000,000 (closed 2023-06-12).

Action: acquisition
Counterparty: Guillermo Solis, Jr.
Consideration: $25,000,000
Closing: 2023-06-12

Exact text from the filing

Jr. (“Solis”), an individual. The Company agreed to acquire from Solis, 249 shares or 24.9% of the issued and outstanding shares of common stock of TGSI at a purchase price of $25,000,000 with Solis retaining the voting proxy to the 249 shares (the “TGSI Stock”) until such time as the purchase price is paid in full. On April 30, 2023 the Company and Guillermo

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Source: SEC EDGAR

accession 0001549727-23-000023

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