extractX Ltd. Announces Completion of Business Acquisition of extractX Incorporated
NIAGARA, Ontario, Oct. 05, 2021 (GLOBE NEWSWIRE) — extractX Ltd. (formerly Tri-Media Integrated Marketing Technologies Inc.) (the “Company“), is pleased to announce that it completed its previously communicated business acquisition of extractX Incorporated (“EXI”) by its wholly owned subsidiary, 12491613 Canada Inc. on October 1, 2021 and the subsequent amalgamation of EXI and 12491613 Canada Inc. The Articles of Amalgamation naming the new entity, extractX Incorporated (“new EXI”) will be filed upon receipt from Corporations Canada.
The consideration given by 12491613 Canada Inc. for the acquisition was an exchange of one Company common share for one common share outstanding of EXI. As stated in the Amalgamation Agreement at June 30, 2021, EXI had 23,352,287 common shares outstanding and the Company had 937,533 common shares outstanding at September 17, 2021.
Further details will be contained in a business acquisition report to be filed.
No stock exchanges have reviewed or accepted responsibility for the adequacy or accuracy of the content of this press release.
About extractX Ltd.
extractX designs, builds, and operates industrial scale self-contained mobile extraction laboratories equipped with the most effective and reliable equipment, allowing for efficient 24/7 operation, and unlimited scalability to meet the demand of any size operation. Built to GPP/GMP/EU GMP standards, extractX purpose builds mobile extraction laboratories to service biomass cultivators and producers wherever and whenever the service is needed, onsite and on demand anywhere in the world.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com).
Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.