Voxtur Terminates Definitive Agreement with University Bancorp

Rhea-AI Summary

Voxtur Analytics Corp (TSXV: VXTR; OTCQB: VXTRF) announced the termination of its definitive agreement with University Bancorp. The agreement, dated July 26, 2024, was for University's acquisition of a 50.5% stake in Blue Water Financial Technologies Holding Company, , an indirect subsidiary of Voxtur. The termination was announced on January 27, 2025.

Positive

• None.

Negative

• Termination of major stake sale agreement (50.5%) of Blue Water subsidiary
• Failed strategic transaction potentially affecting company's financial plans

TORONTO and TAMPA, Fla., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF), a technology company creating a more transparent and accessible real estate lending ecosystem, today announced the termination of the definitive agreement dated Friday July 26, 2024, with University Bancorp, Inc. (“University”) for the acquisition of 50.5% stake in Blue Water Financial Technologies Holding Company, LLC, an indirect subsidiary of Voxtur (“Blue Water”).

About Voxtur

Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.

Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s strategic initiatives, plans, business prospects, and opportunities. Forward-looking statements should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations, or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, will not occur or be achieved. 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 effects of unexpected costs, liabilities or delays; success of software activities; the competition for skilled personnel; 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: implementation of new products; changing global financial conditions; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed 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.

NEITHER THE 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.

Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.

Voxtur Contact:
Jordan Ross
Chief Operating Officer
Tel: (416) 708-9764
Email: jordan@voxtur.com

FAQ

What happened to Voxtur's agreement with University Bancorp for Blue Water stake sale?

On January 27, 2025, Voxtur Analytics announced the termination of its definitive agreement with University Bancorp for the sale of a 50.5% stake in Blue Water Financial Technologies Holding Company.

When was the original Blue Water stake sale agreement between Voxtur (VXTRF) and University Bancorp signed?

The original definitive agreement between Voxtur Analytics and University Bancorp was signed on July 26, 2024.

What percentage of Blue Water was University Bancorp planning to acquire from Voxtur (VXTRF)?

University Bancorp was planning to acquire a 50.5% stake in Blue Water Financial Technologies Holding Company from Voxtur Analytics.

How does the termination of the University Bancorp deal affect Voxtur stock (VXTRF)?

The termination of the agreement could negatively impact Voxtur's stock as it represents the failure of a significant strategic transaction involving the majority stake sale of its subsidiary Blue Water.