NameSilo Technologies Corp. Enters Letter of Intent to Acquire 100% of Reach Systems Inc.

Executive Summary

• NameSilo Technologies Corp. has entered into a non‑binding Letter of Intent (LOI) to acquire all issued and outstanding shares of Reach Systems Inc., a Canadian engineering and manufacturing firm.
• The proposed purchase price is C$4,500,000, payable upon closing of a definitive share purchase agreement.
• Closing is contingent on due diligence, execution of a definitive SPA, and satisfaction of customary conditions.

Key Details

• Target: Reach Systems Inc., based in Nanaimo, BC – designs and manufactures remote inspection equipment, tether management systems, underwater/subsea camera & winch solutions for oil & gas, petrochemical, marine, robotics, and confined‑space industries.
• Transaction Structure: Equity purchase of 100% of Reach’s issued and outstanding shares.
• Purchase Price: C$4,500,000 (cash).
• Negotiation Basis: Arm‑length negotiations; no insider relationships between the parties.
• Closing Conditions: Execution of a definitive share purchase agreement, satisfactory completion of NameSilo’s due diligence on Reach, and fulfillment of all customary closing conditions.
• Strategic Rationale (implied): Expands NameSilo’s portfolio beyond domain registration into engineering/manufacturing of remote inspection hardware, diversifying its investment focus.

Notable Quotes

(No direct quotes were provided in the release.)