eXeBlock Technology Corporation Announces Acquisition of Aitenders

Executive Summary

• eXeBlock Technology Corp. entered into a definitive share‑exchange agreement to acquire all outstanding shares of Aitenders, a French AI‑tender platform company.
• The transaction will be effected by issuing 54 million eXeBlock common shares at a deemed price of $0.5833 per share and will trigger a reverse takeover, with the combined entity expected to be renamed “Aitenders Technologies Inc.”
• A concurrent private placement will raise a minimum of $2.4 M in gross proceeds (Subscription Receipts priced at $0.5833 each) to fund transaction expenses, expand Aitenders’ sales/marketing and product development, and provide working capital for the post‑transaction issuer.

Key Details

• Transaction Structure: Share exchange – eXeBlock will issue 54 M common shares (post‑consolidation) to Aitenders shareholders in exchange for all 2,754,817 Aitenders shares.
• Deemed Share Price: $0.5833 per eXeBlock share (same price applied to Subscription Receipts).
• Reverse Takeover: Post‑closing, Aitenders shareholders will control the combined entity; eXeBlock will be renamed “Aitenders Technologies Inc.” and receive a new trading symbol.
• Consolidation of eXeBlock Shares: 1 post‑consolidation share for every ~12.589 pre‑consolidation shares, reducing outstanding eXeBlock shares to ≈6 M on a non‑diluted basis prior to closing.
• Concurrent Financing (Private Placement):
• Instrument: Subscription Receipts converting automatically into one post‑consolidation share upon escrow release.
• Price: $0.5833 per receipt.
• Minimum Gross Proceeds: $2,400,000 (subject to adjustment).
• Use of Proceeds: (i) transaction and financing expenses; (ii) expansion of Aitenders sales, marketing, and product development teams; (iii) working capital for the resulting issuer.
• Finder’s Fee: Up to the maximum permitted by Exchange policies may be paid in connection with the concurrent financing.
• Corporate Finance Advisor Fee: Numus Capital Corp. to receive $500,000 worth of eXeBlock shares (857,143 post‑consolidation shares) as compensation.
• Regulatory Conditions: Completion subject to delivery of audited/unaudited/pro forma financials, no material adverse change, required consents and approvals (including Exchange conditional approval), implementation of consolidation and name change, and successful closing of the concurrent financing.
• Trading Halt: eXeBlock’s shares have been halted pending completion of the transaction; trading will resume only after Exchange clearance.
• Non‑Related Party Transaction: The deal is not classified as a related‑party transaction under MI 61‑101.

Notable Quotes

(No direct quotes were provided in the release.)