Voxtur Announces the Issuance of Shares in Connection with the Acquisition of MTE
Voxtur Analytics Corp. plans to issue 5,500,000 common shares at a price of $0.094 per share in lieu of cash for the remaining purchase price for the acquisition of Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation. The Issuance is considered to be a shares for debt transaction and is subject to TSXV approval.
02/02/2024 - 05:32 PM
TORONTO and Tampa, Fla., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that pursuant to the prior press release dated July 5, 2022 , the Company intends to issue (the “Issuance”) an aggregate of 5,500,000 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $0.09 4 per share in lieu of cash payable for the aggregate amount of $500,000 (being the outstanding cash balance of the remaining purchase price for the acquisition of Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation (collectively, “MTE”)), held in escrow for 18 months pursuant to an escrow agreement between the Company, the escrow agent, the seller and the guarantor (the “Escrow Amount”).
Pursuant to an amended and restated escrow agreement, the escrow agent will return in cash, the Escrow Amount (together with all interest, dividends, income, capital gains and other amounts earned thereon or derived therefrom) to the Company and the Company will issue 5,500,000 Common Shares to the seller in lieu of cash payable for the Escrow Amount.
The Issuance is considered to be a shares for debt transaction pursuant to the policies of the TSX Venture Exchange (the "TSXV") and remains subject to TSXV approval.
About Voxtur
Voxtur is a transformational proptech company that is redefining industry standards in a dynamic lending environment. The company offers targeted data analytics to simplify the multifaceted aspects of the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value real estate assets, providing critical due diligence that enables market participants to effectively originate, trade, or service defaults on mortgage loans. As an independent and transparent mortgage technology provider, the company offers primary and secondary market solutions in the United States and Canada. For more information, visit www.voxtur.com .
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking information”). Any information contained herein that is not based on historical facts may be deemed to constitute forward looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include, but is not limited to: the completion of the Issuance; approval of the Issuance by the TSXV; expectations for the effects of certain milestones or the ability of the Company to successfully achieve certain business objectives; the effects of unexpected costs, liabilities or delays; success of software activities; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure or failure to implement technological upgrades; the Company’s dependence on maintaining intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
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Voxtur Analytics Corp.'s ticker symbol is VXTRF.
Voxtur Analytics Corp. plans to issue 5,500,000 common shares.
The common shares will be issued at a price of $0.094 per share.
The shares issuance is in lieu of cash payable for the remaining purchase price for the acquisition of Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation.
Yes, the shares issuance is subject to TSXV approval.
