Paul Dubé, Troon Technologies' Co-Founder and Managing Partner, added, "Our shared vision for industry excellence and growth has now taken a substantial step forward. Troon Technologies is poised to integrate our expertise and cutting-edge technology into Spirit's portfolio, ensuring our clients access to even more advanced solutions to meet their evolving demands. Together, we are committed to reshaping the future of the digital asset and technology landscape."
The Transaction
Under the share purchase agreement, Spirit shall acquire 100% of the shares of Troon Technologies in four tranches over a period of three years contingent on the parties achieving agreed-upon performance related-milestones (the “Transaction”). Initially, Spirit will purchase 10% of the issued and outstanding shares of Troon Technologies (“Troon Shares”) from its shareholders in exchange for such number of common shares of Spirit (the “Spirit Shares”) equal to
This strategic partnership brings together two dynamic entities with complementary strengths, resources, and market presence, positioning them as a powerful force within the digital asset and technology sectors. This collaboration is set to unlock new opportunities, enhance market positioning, and drive innovative solutions, creating a seamless transition and realizing synergistic benefits. Troon Technologies is in a strong financial position, generating
The completion of the transaction is contingent upon customary closing conditions and regulatory approvals.
At
Together, with Troon Technologies, we are pioneering a new era in capital investment, where technology and innovation work hand in hand to drive growth, seize opportunities, and navigate the challenges of this dynamic sector. Our mission is clear: to empower our clients with the technology they need to thrive in the blockchain sector and contribute to the continued evolution of this transformative industry."
Media Contact:
Email: info@spiritblockchain.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Forward-looking information in this news release includes, among other things: the proposed terms of the Transaction; the completion of the Transaction, Spirit meeting the performance-based targets under each of the tranches pursuant to the terms of the share purchase agreement; Troon meeting the performance-based targets under each of the tranches pursuant to the terms of the share purchase agreement; Spirit obtaining the customary regulatory and CSE approvals required to affect the Transaction. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading “Risk Factors” in the Company’s long form prospectus dated
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements’ best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
The CSE has not reviewed, approved or disapproved the content of this press release.
Source:
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