Item 8.01 Other Events -- Signing of Letter of Intent
On March 22, 2019, Bigfoot Project Investments Inc., (OTC Pink: BGFT) (the "Company or "Bigfoot Project Investments") signed a letter of intent (the "Agreement") with Independent Contractors Network, Inc. (ICN) to acquire 100% of the issued and outstanding stock of ICN in exchange for convertible preferred stock of BGFT. Consummation of the Transaction, as contemplated, will be subject to the negotiation and execution of a mutually satisfactory definitive share exchange agreement.
Independent Contractors Network, Inc. (ICN) has developed and holds exclusive license to "Loadchief" last-mile delivery platform. Loadchief is a proprietary application of Independent Contractors Network, Inc. (A California Corporation). Loadchief was created by courier-industry professionals with more than 50 years of combined experience in the delivery industry. The Loadchief platform transforms economic and resource efficiencies and allocations found by connecting credentialed, independent drivers with courier companies. Courier companies and independent drivers get the Loadchief Advantage over their competition. With the development of Loadchief, ICN has surged to the leading edge of their industry. The goal of this merger is to expand the Loadchief service footprint into new regions through access to the OTC Markets.