The TSX Venture Exchange has accepted for filing documentation pertaining to the sale and purchase agreement entered into on April 21, 2023, between EvokAI Creative Labs Inc. and an arm's-length vendor for the 100-per-cent acquisition of the vendor, a Finnish medtech company creating smart medical devices and solutions to improve patients' quality of life and support medical professionals in their work. Pursuant to the terms of the agreement, the company will issue a total of 3,724,674 common shares in the capital of the company upon closing of the transaction.

The company may make additional contingency payments for up to an additional 1,769,406 common shares in the capital of the company to the investors of the vendor based on achieving certain milestones, such as: (i) 250,000 euros worth of common shares to be issued upon the vendor achieving CE Mark certification for its systems, including the disposable sensor, within five months from the date of the agreement; (ii) 500,000 euros worth of common shares to be issued if the vendor achieves 500,000 euros in net profits within 15 months from date of the agreement; and (iii) 750,000 euros worth of common shares to be issued if the vendor achieves 1.5 million euros in net profits within 22 months from the execution of the agreement.

For further details, please refer to the company's news releases dated April 24, 2023, and May 30, 2023.