NuOasis Merger OKd
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IRVINE — NuOasis Gaming Inc. said Tuesday it has received approval of National Pools Corp. shareholders to buy the San Francisco-based firm.
The acquisition of National Pools, a start-up company that produces Hit-Lotto value cards that allow purchasers to join pools with other lottery players, should be completed Friday, a NuOasis spokesman said. The transaction involves a promissory note that can be converted into stock over a five-year period, the spokesman said. He did not disclose the value of the note.
National Pools’ founder and chairman, Joseph Monterosso, has been named president and a director of NuOasis.
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