Trustbix receives OK for indoor farm management system

Executive Summary

• Trustbix Inc. received final acceptance from the TSX Venture Exchange for its acquisition of an indoor farm management system (IFMS) asset from Mindsgate Ltd.
• The purchase was executed via a share‑plus‑warrant issuance: 6 million units at a deemed price of $0.035 per unit, each unit consisting of one common share and one warrant to buy a share at $0.08 for two years.
• All issued securities are subject to a statutory four‑month‑and‑one‑day hold period under Canadian securities law.

Key Details

• Final Exchange Acceptance: Received from the TSX Venture Exchange, confirming completion of the asset purchase agreement.
• Consideration Structure: 6 million units issued; each unit = 1 common share + 1 common share purchase warrant.
• Deemed Unit Price: $0.035 per consideration unit (equivalent to $0.0175 per share and $0.0175 per warrant).
• Warrant Terms: Each warrant allows the holder to purchase one common share at $0.08, exercisable for two years from closing.
• Hold Period: All securities issued—including any shares resulting from warrant exercises—are subject to a four‑month‑and‑one‑day statutory hold period per Canadian securities regulations.
• Asset Description: The IFMS is a fully integrated, production‑ready platform with modules for farm operations, IoT device management, AI‑driven plant recognition, traceability, CRM, operator training, order management, and resource tracking—essentially an ERP‑grade solution for indoor farming.

Notable Quotes

No executive quotes were provided in the release.