This article has been disseminated on behalf of Shelfie-Tech Ltd. and may include paid advertising.
Shelfie-Tech Ltd. (CSE: SHLF) (OTCQB: SHLFF) announced the closing of its previously disclosed acquisition of a 70% interest in Aspect Information Systems Ltd. on a fully diluted basis. The company paid total consideration of approximately US$1.58 million to Aspect’s sole shareholder, consisting of approximately US$1.23 million in cash and 269,231 Shelfietech common shares valued at US$350,000. The shares are subject to a statutory hold period expiring March 5, 2027.
In connection with the acquisition, Shelfietech also agreed to provide Aspect with a US$595,000 convertible loan, including US$170,000 advanced at closing and the remaining US$425,000 due by Jan. 31, 2027. The loan matures on the earlier of Jan. 1, 2031, or the date Aspect’s former sole shareholder ceases to hold shares in Aspect. At maturity, Shelfietech may elect repayment or conversion into Aspect shares based on a pre-money fully diluted valuation of approximately US$3.32 million, or agree to an extension. The transaction qualifies as a significant acquisition under National Instrument 51-102.
To view the full press release, visit https://ibn.fm/KCpZV
About ShelfieTech
ShelfieTech is a technology company focused on providing shelf inventory management technological solutions for the retail industry, in particular for large grocery stores and supermarkets.
Using patent-pending technology, ShelfieTech’s technological solution includes a robotic retail shelf monitoring system which uses its self developed proprietary software that utilizes machine learning and image processing algorithms to automatically optimize shelf inventory management.
NOTE TO INVESTORS: The latest news and updates relating to SHLFF are available in the company’s newsroom at https://ibn.fm/SHLFF
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