Calyx to Acquire Software Assets and Clients
VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 13, 2017) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) (“Calyx” or the “Company“) is pleased to announce that it has entered into a letter agreement to acquire the remaining software assets and clients related to the existing software framework purchased in November 2016 which enhanced the features of its real-time, mass communications platform. The new assets provide the additional security to ensure that Calyx will have very little competition in this space. This acquisition is expected to seamlessly integrate into the Company’s existing business model, and significantly enhance the Company’s wholly owned LEAFHub Technologies brand.
In consideration for the acquisition, the Company will issue 4,580,000 common shares.
Completion of the transaction remains subject to completion of due diligence, the approval of the TSX Venture Exchange, and certain other conditions customary in transactions of this nature. The transaction cannot be completed until these conditions are satisfied. All securities issued in connection with the transaction will be subject to a four-month-and-one day statutory hold period.
Calyx’s wholly-owned subsidiary, Cannigistics Agri-Solutions Corp., is a software development company that has created a software platform tailored to advanced indoor agriculture. The Cannigistics software platform is designed to enhance the efficiency and effectiveness of indoor agricultural operations, and positions Cannigistics to be the industry leader in agri-software solutions by providing businesses with advanced controls over all aspects of their operations. Additionally, Calyx owns a portfolio of proprietary intellectual property with applications in crop enhancement.
For further information about Calyx, please visit www.calyxbio.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and Chief Executive Officer