(Alliance News) - Beewize Spa announced that it has signed a letter of intent with Mexedia SB Spa and its majority shareholder, Heritage Ventures Ltd, regarding a merger between Beewize and Medexia.

With the transaction, Mexedia expects to increase its visibility as well as the liquidity of its stock by moving to a regulated market.

Beewize, in its strategic planning, had long expressed interest in carrying out extraordinary business combination transactions with potential strategic partners, which are essential in order to be able to achieve economic-financial balance, ensuring a significant increase in the volume of business, resulting in the optimization of the group's structural economic structure.

Beewize's stock is up 7.1 percent at EUR0.75 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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