Namesilo signs deal to acquire SewerVUE Technology

Executive Summary

• Namesilo Technologies Corp. has entered into a definitive share purchase agreement to acquire 100% of the issued and outstanding shares of SewerVUE Technology Corp., a Coquitlam, B.C.-based company specializing in large-diameter pipe inspection technology.
• The acquisition consideration is $2.45 million payable to SewerVUE shareholders, with closing subject to standard conditions precedent.
• In connection with the transaction, Namesilo will issue common shares and grant options to a third-party finder as part of the transaction costs.

Key Details

• Transaction Structure: Definitive share purchase agreement to acquire 100% of SewerVUE Technology Corp.
• Target Company: SewerVUE Technology Corp., based in Coquitlam, B.C., Canada.
• Target Business: Pioneers large-diameter pipe inspection technology, including pipe-penetrating radar (PPR), lidar, sonar, and HD CCTV. Services municipalities, mining corporations, and engineering firms globally.
• Acquisition Consideration: $2.45 million payable to SewerVUE shareholders.
• Finder’s Fees/Transaction Costs:
  • Issuance of 78,750 common shares to a third-party finder at a price of $1.40 per share.
  • Shares are subject to a four-month resale restriction.
  • Grant of options to purchase 150,000 shares to the finder, exercisable at $1.40 per share for a period of five years from the date of grant.
• Closing Conditions: Subject to satisfaction of conditions set forth in the SPA.

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