TORONTO - Nobul AI Corp. and Check-Cap Ltd. (NASDAQ: NASDAQ:CHEK) today disclosed a definitive Business Combination Agreement that will see Nobul's shareholders become the majority in a new entity. The merger aims to create a public company with a focus on AI-driven fintech and strategic acquisitions.
The combined company, which will be headquartered in Toronto, plans to list on both NASDAQ and TSX, subject to regulatory and exchange approvals. Regan McGee, CEO of Nobul, will lead the new company.
Paul Medeiros, Chairman of Check-Cap, expressed confidence in the merger, noting the board's belief in its shareholder benefits. A special meeting for Check-Cap shareholders to vote on the merger is scheduled in the coming months.
The transaction has received board approval from both companies and is contingent on shareholder and regulatory consent.
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