I-ON Digital Corp. (OTCPK:IONI) reached an agreement in principle to acquire all of the outstanding membership interests of Orebits Acquisition Group, LLC in a transaction valued at approximately 18.2 million on June 28, 2023. The Transaction remains an agreement in principle and has not yet been memorialized in any definitive documentation. As such, the consummation of the Transaction is subject to the completion of comprehensive due diligence by I-ON Digital Corp. I-ON anticipates that the transaction, following requisite notifications and approvals, will close during the third quarter of 2023.

I-ON Digital Corp. entered into a Contribution and Exchange Agreement with Orebits Acquisition Group on October 30, 2023, a Wyoming limited liability company (?OAG?), pursuant to which the Company will acquire 910,000 shares of currently outstanding common stock of Orebits Corp. (?Orebits?), representing a controlling interest in Orebits, in exchange for 910,000 shares of Series C Preferred Stock of the Company. The Company currently anticipates that the transaction, subject to closing conditions, will close effective with the end of the fourth quarter of 2023.

I-ON Digital Corp. (OTCPK:IONI) completed the acquisition of Orebits Acquisition Group, LLC on December 15, 2023.