Home » News Articles » TAP CLIENT MERCHANT TECHNOLOGY SIGNS LETTER OF INTENT WITH U.S.-BASED FIRM Agreement Includes Reverse Takeover of Stock Listing

Letter of Intent

(LONDON, England; 12 October 2023) – UK-based Merchant Technology Ltd. (MTLTD), through its U.S. operating company, has signed letter of intent to merge with Organic Sales and Marketing (OSM), a publicly-listed, American firm. The deal will result in MTLTD shareholders owning 95% of the U.S.-based company and be structured through a reverse takeover that would ultimately have Merchant Technology be the surviving, listed company.

OSM trades under the symbol OGSM and is currently listed on the OTCPK exchange. MTLTD anticipates becoming a reporting company first and then through organic growth, strategic acquisitions, and capital raising migrate to a national exchange such as NASDAQ.

TAP Financial Partners, a Miami-based merchant bank, is an equity and debt partner of Merchant Technology and intimately involved with the pre-sale agreement. “We were pleased to generate and structure this opportunity for Merchant Technology,” said Bob Press, founder of TAP Financial Partners. “I’m confident the proposed merger will fuel continued growth and enable them to have a significant presence in the U.S.”

Merchant Technology is a newly named entity that was created following SimplyPayMe’s acquisition of the assets of Mytown Technologies. The company’s software provides SMEs payment, invoicing, and business management solutions that are accessible through smartphones. It is the parent company of Online High Street, an ecommerce marketplace platform, and the business directory Mytown UK.

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TAP Financial Partners is a privately-held, boutique merchant bank providing advisory, restructuring, debt and equity, investment, Mergers and Acquisition structuring and lending services, fulfillment, and up-listing advice to a select group of small and mid-sized enterprises. Its financial expertise and decades of collective experience position it to be a difference-maker for clients, no matter the assignment or mandate. To learn more about services and impact, connect at www.tap-partners.com or info@tap-partners.com.

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