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Nami to acquire GMCI

Nevada-based development-stage company Nami Corp. entered into a letter of intent Dec. 11 to acquire investment holding group GMCI Corp., according to a Dec. 15 SEC filing.

Under the agreement, Nami will acquire up to 100% of the issued and outstanding capital stock of GMCI in return for shares of Nami's capital stock. The deal is subject to conditions including a share exchange agreement, valuation of both companies' stock and approval of at least 70% of the issued and outstanding shares of GMCI.

Nami is also required to file a registration statement with the SEC for the share exchange.

Upon completion of the deal, Nami will operate Nevada-based GMCI as a wholly or majority-owned subsidiary. Neither financial details of the deal nor an expected completion date were disclosed.