The TSX Venture Exchange has accepted for filing documentation pertaining to an arm's-length share purchase agreement between the company and shareholders of CCS Group Holdings Ltd. to acquire 100 per cent of the issued and outstanding shares in the capital of CCS Group Holdings and acquire CCS Group Holdings' wholly owned subsidiary, Commercial Collection Services Ltd.

Pursuant to the agreement, the company acquired CCS Group Holdings shares for $4,473,563 (2,475,000 pounds sterling), consisting of $4,247,625 (2.35 million pounds sterling) paid at closing and a $225,938 (125,000 pounds sterling) holdback payable 90 days later, subject to adjustments. Additionally, the company issued 2,233,565 common shares at a deemed price of $1 per share. A deferred payment of $711,703 (393,750 pounds sterling) will be made over six monthly instalments two years after closing. The sellers may also earn up to $711,703 (393,750 pounds sterling) in performance payments if CCS Group Holdings meets specified EBITDA (earnings before interest, taxes, depreciation and amortization) targets within two years.

For more information, refer to the company's news releases dated Sept. 23, 2024, and Nov. 7, 2024.