Searchlight Innovations alters merger agreement with Riverboat Energy

In Vancouver, British Columbia, on January 6, 2025, Searchlight Innovations Inc. announced that it entered into an amending agreement concerning its merger with Riverboat Energy, initially established on October 11, 2024. The amendment includes a significant extension of the outside closing date of the proposed transaction from the originally set date of December 31, 2024, to March 31, 2025. Additionally, it revises the terms of the financing connected to the transaction and updates specific representations pertaining to Riverboat, including the issuance and capital structure following the transaction. As part of the new agreement, there will be changes in the concurrent financing arrangements, and a success fee payable to Fiore Management and Advisory Corp., which entails the issuance of up to 150,000 common shares in the forthcoming resulting issuer at a designated price. Additionally, Riverboat currently has 35,425,334 shares fully issued and outstanding along with several options, reflecting the financial structure in preparation for the proposed move towards a merger. This transaction is among several ongoing developments as the merger progresses. Frederic Leigh, a director at Searchlight, increased his holdings by acquiring 250,000 shares of Riverboat on November 15, 2024, giving him a total of 2,250,000 shares. This acquisition indicates a vested interest in the merger's success and the potential growth anticipated post-transaction. The proposed consideration also highlights the importance of relationships and trust with stakeholders, especially during merger activities where both companies aim to navigate through various regulatory hurdles. Currently, trading of Searchlight's shares is paused as a precaution while they ensure all necessary documentation is submitted and complies with the exchange's requirements. The proposed transaction, which may fall under the