Vancouver, British Columbia--(Newsfile Corp. - February 10, 2025) - Clara Technologies Corp. (CSE: CLTE) (the "Company") is pleased to announce that it has entered into a share exchange agreement (the "Agreement") to acquire Hunter Sales Co Pty Ltd. ("HSCPL"), a privately held arm's-length company established under the laws of Australia. Pursuant to the terms of the Agreement, in consideration for acquiring all of the outstanding share capital of HSCPL, the Company will issue to the shareholders of HSCPL a total of 6 million common shares, at a deemed issuance price of $0.18 per share, and 6 million common share purchase warrants, each warrant exercisable at a price of $0.23 for one additional common share of the Company for a term of twenty-four months. Based on the issuance price of the consideration shares, the Company is valuing HSCPL at $1.08 million.
It is anticipated that upon closing of the transaction, the founder of HSCPL, Jonah Hicks, will join the Company as a director and as a senior vice president.
The Company is arm's length to HSCPL and each of its shareholders. The Transaction does not constitute a fundamental change for the Company, has not resulted in a change of control of the Company (within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange), and does not create any new 10% or greater shareholder of the Company. The Company anticipates that the transaction will close on or before the end of February 2025. Closing of the transaction is subject to the approval of the Canadian Securities Exchange.
About Hunter Sales Co Pty Ltd.
Hunter Sales Co Pty Ltd. is a company based in Australia, that runs Sales Buddi, an innovative sales coaching platform and application, which uses artificial intelligence to refine the techniques of sales professionals by tailoring their approach to meet client needs and enhance sales outcomes.
On Behalf of the Board of Directors
Gerald Tritt
Director
(604) 671-4799
geraldtrittt@gmail.com
Forward-Looking Statements; Disclaimers:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The Company does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law. There can be no guarantee that the acquisition of HSCPL will be completed.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240244
SOURCE: Clara Technologies Corp.
