In a landmark move for the technology and financial sectors, Nobul AI Corp. (“Nobul”) and Check-Cap Ltd. (“Check-Cap” or the “Company”) (NASDAQ: CHEK) today announced a definitive Business Combination Agreement. This strategic merger marks a significant step towards creating a North American powerhouse in the AI-driven fintech marketplace. The shareholders of Nobul will emerge as majority holders in the combined entity, which will be headquartered in Toronto, Canada.

The cornerstone of this agreement is the creation of a public company poised to redefine the fintech landscape through an AI-driven marketplace and strategic acquisitions aimed at enhancing shareholder returns. The merged entity plans to apply for listings on both NASDAQ and the Toronto Stock Exchange (TSX), contingent upon meeting all listing requirements and obtaining necessary approvals.

The leadership team from Nobul, led by Founder, CEO, and Chairman Regan McGee, will steer the new company. This transition underlines the company’s commitment to leveraging its expertise in mergers, acquisitions, and private equity transactions to fuel growth and expansion.

Paul Medeiros, Chairman of the Board of Directors of Check-Cap, highlighted the merger’s potential, stating, “We are excited to enter into a definitive business combination agreement with Nobul, a high-growth technology company focused on generating strong returns for its shareholders.” This sentiment was echoed by McGee, who emphasized the merger’s role in advancing Nobul’s mission and expanding its reach and capabilities.

The agreement, endorsed by both companies’ boards of directors, is subject to approval from Check-Cap shareholders. A special meeting is anticipated in the coming months to formalize the merger, pending customary conditions including regulatory and exchange approvals.

Kingswood Capital Partners LLC and ArcStone Securities and Investment Corp. provided advisory services, reinforcing the strategic and financial soundness of the transaction.

Nobul, recognized for its high-growth trajectory, offers AI-driven technology solutions in the fintech sector, catering to home buyers and sellers. Check-Cap, a clinical-stage medical diagnostics company, is at the forefront of revolutionizing colorectal cancer screening with its innovative C-Scan technology.

This merger represents a transformative leap for both companies, combining Nobul’s prowess in AI and fintech with Check-Cap’s groundbreaking medical diagnostics technology.

The synergies from this combination promise to unlock new opportunities and deliver enhanced value to shareholders, setting a new benchmark in the integration of technology and finance.

The merger between Nobul AI Corp. and Check-Cap Ltd. signifies a strategic alignment of complementary strengths, setting the stage for a significant impact on the fintech and healthcare technology sectors. By leveraging Nobul’s expertise in AI and fintech alongside Check-Cap’s innovative medical diagnostics, the combined entity is well-positioned for accelerated growth and market leadership. This business combination not only enhances shareholder value but also underscores the increasing role of technology in transforming traditional sectors, heralding a new era of AI-enabled solutions in finance and healthcare.

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