DR. PHONE FIX ENTERS INTO AN AGREEMENT TO EXPAND INTO ATLANTIC CANADA THROUGH STRATEGIC ACQUISITION

Executive Summary

• Dr. Phone Fix Canada Corp. entered a definitive Asset Purchase Agreement to acquire substantially all assets of Geebo Device Repair Inc., adding six Atlantic‑Canada retail locations.
• Total consideration is $1,350,000 plus the value of saleable inventory, funded with $600k cash, a $250k vendor promissory note, and newly issued common shares valued at approximately $500k (plus additional shares for inventory).
• The acquisition expands Dr. Phone Fix’s footprint to Atlantic Canada, supporting its goal to double store count to >70 locations within 12‑18 months.

Key Details

• Target: Geebo Device Repair Inc., a mobile‑device repair chain operating six stores in Nova Scotia.
• Purchase Price: $1,350,000 (subject to customary adjustments) plus the fair market value of saleable inventory at closing.
• Cash Component: $600,000 paid at closing.
• Debt Component: Vendor take‑back promissory note for $250,000 principal amount.
• Equity Component:
• Consideration Shares with aggregate value of $500,000 issued to seller.
• Additional Consideration Shares equal to the net inventory value (cash attributed to inventory excluded).
• Share count determined by the greater of:
  1. 21‑day volume‑weighted average price of DPF common shares on TSX Venture Exchange prior to execution, or
  2. Minimum price permitted under TSXV policies.
• Escrow: All Consideration Shares placed in escrow and released per customary escrow agreement.
• Closing Conditions: Subject to customary adjustments, receipt of TSXV approval, and other standard closing conditions.
• Management Continuity: Geebo’s existing team and management will remain post‑closing to ensure operational continuity.
• Strategic Rationale: Provides immediate East‑Coast platform, creates synergies, expands OEM‑certified repair capabilities, deepens insurance‑partner relationships, and supports the company’s circular‑economy brand vision.
• Future Growth Goal: Increase corporate‑owned locations from ~35 to >70 stores nationwide within the next 12–18 months.

Notable Quotes

“This acquisition marks a significant milestone in Dr. Phone Fix's ongoing expansion and strengthens our position as a coast‑to‑coast service provider.” – Piyush Sawhney, Founder & CEO

The transaction is arm’s length and subject to customary adjustments and closing conditions, including TSXV approval.