MDI Entertainment Inc. will merge with The Lottery Channel, making The Lottery Channel a wholly owned subsidiary of MDI. The new company will be called Lottery.Com Inc.
Subject to shareholder approval and receipt of certain financing, stockholders of The Lottery Channel will receive 13,000,000 shares or options to purchase shares of MDI common stock in exchange for The Lottery Channel common stock and options and rights to purchase The Lottery Channel common stock.
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