Mentorhead Incorporated (OTC:MBAIF) Stock Gains Momentum: Here is Why

As the week draws to a close, it may be a good time for investors to consider taking a look into some of the companies that have made significant announcements lately. On December 28, MedBright AI Investments Inc. was in the news cycle after it announced that its fully owned subsidiary, Vinerga Acquisition Corp., had issued a total of 350 common shares of MB Acquisition Co. to Mentorhead Incorporated (OTC:MBAIF).

Mentorhead Incorporated does business as Limmi. As per the intellectual property and option agreement, Vinergy Licensing Corp., a fully owned subsidiary of MedBright AI Investments, was awarded specific rights for the Artificial Intelligence FDA and HIPAA Platform by Limmi. The rights were granted in exchange for MB Acquisition Co. shares. Essentially, the transactions resulted in MedBright AI Investments completing an investment in the healthcare artificial intelligence platform operated by Limmi. It was also announced yesterday that each MB Acquisition Co. share would be exchangeable, if decided so by Limmi, for the acquisition of MedBright Class A shares.

In the news release, it was also revealed that, as per the provisions of the Intellectual Property Licence and Option Agreement, MB Licensing Co. had been granted the irrevocable and binding option to buy the AI Platform by Limmi. In a move that went into effect on December 11, 2023, MedBright AI Investments created a new category of non-voting common shares. It was noted that the MedBright Class A shares would have the same features as the common shares in the company.

However, the key difference would be that the Class A shares would not be listed on the Canadian Securities Exchange. The press release also revealed that, in relation to the transaction, the company had also paid an arm’s length party with as many as 1,000 common shares. It remains to be seen if the MedBright AI Investments stock comes into focus today.