R3 Score Technologies, Inc. entered into a share exchange agreement to acquire Global Boatworks Holdings, Inc. for approximately $100 million in a reverse merger transaction.

R3 Score Technologies, Inc. entered into a share exchange agreement to acquire Global Boatworks Holdings, Inc. (OTCPK:GBBT) for approximately $100 million in a reverse merger transaction on September 3, 2020. Global Boatworks will issue 4.303657 shares for each one share held by sellers in R3 Score. As part of the agreement, Global Boatworks will issue up to 103.31 million shares of common stock to R3 Score. The transaction is subject to all officers and members of the Board of Directors of Boatworks shall have provided an undated resignation and shall have appointed the designees of the Sellers as members of the Board of Directors. The initial closing pursuant to which Global Boatworks will acquire 94% of R3 Score is expected to occur no later than September 10, 2020 with subsequent closings for up to 100% of R3 Score to occur no later than September 30, 2020. Gopal Burgher of BurgherGray LLP acted as legal advisor to R3 Score Technologies.