The policies have a combined face value at maturity of about $124m and meet the stringent investment criteria of Sundance Strategies.
The total value of the transaction is equivalent to approximately $9.00 per share, at a valuation of $10m, in accordance with the terms of the transaction.
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Commenting on the deal, Sundance Strategies president Randy Pearson said: "We are very pleased to have this LOI in place and look forward to closing this transaction before the end of the calendar year.
"This acquisition brings us even closer to our $1 billion target.
"With our goal of acquiring $1,000,000,000 face value of life settlement policies within the next year, the cumulative effect of these layered, year-over-year cash flows, when the face death benefits are paid, will yield substantial growth to the company."
The stock transaction is likely to be concluded by the end of this year.
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