Evil Empire Designs, Inc. (OTCPK:EVVL) entered into a share exchange agreement to acquire Jade Affiliated Inc. from Jad Wakim for $1.2 million on October 11, 2023. Under the terms and conditions of the share exchange agreement, Evil Empire will issue 10,100,000 shares of common stock in consideration for all of the issued and outstanding capital stock in Jade Affiliated. As a result of the share exchange, Jade Affiliated would became a wholly-owned subsidiary of Evil Empire.

The share exchange agreement is subject to all necessary approvals under federal and state securities laws and other authorizations relating to the issuance of the acquisition shares and the transfer of the Shares shall have been received, Jad Wakim shall have been appointed a director, and a Vice President (which position is not an officer), of Evil Empire Designs and customary closing conditions. The transaction is expected to close on or before November 1, 2023.