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BRIEF-IOT to acquire US headquartered HoverBoard business

Oct 12 Iot Group -

* IOT signed a term sheet to create a strategic partnership

* Acquisition paid for in IOT scrip progressively commencing at a 7.5 cent per share floor price through to 15 cents per share

* Will commit US$1 million via a convertible note in tranches Source text for Eikon: Further company coverage:

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