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M&A / Property

TrustBIX Inc. Announces Letters of Intent to Acquire 100% of Zen Cyber Ltd. and 100% of WILDCARD MSP

By The Northwire Desk — AI Analysis Feb 24, 2026 · 09:16 TBIX · 0.015 Trustbix Inc.
TBIX · Price

Executive Summary

  • TrustBIX Inc. announced two non‑binding LOIs to acquire 100 % of Zen Cyber Ltd. and WILDCARD MSP, expanding its technology capabilities for agricultural customers.
  • The proposed transactions will be funded by issuing up to 6,250,000 Consideration Units for Zen Cyber and up to 1,000,000 Consideration Units for WILDCARD, each unit consisting of one common share plus a warrant to purchase an additional share at $0.08 for two years.
  • Both target CEOs are expected to remain as Presidents reporting to TrustBIX’s CEO; definitive agreements are targeted to be signed by 20 March 2026, subject to due diligence, board and regulatory approvals.

Key Details

  • Zen Cyber LOI
  • Target: Zen Cyber Ltd., a Canadian cybersecurity consulting firm.
  • Consideration: Up to 6,250,000 Consideration Units (each = 1 common share + 1 warrant).

  • Post‑closing leadership: Jamie Swanson (CEO of Zen Cyber) will continue as President of Zen Cyber, reporting to TrustBIX’s CEO.

  • WILDCARD LOI

  • Target: WILDCARD MSP (operating as xFacilitator Inc.), an IT managed service provider for small businesses.
  • Consideration: Up to 1,000,000 Consideration Units (each = 1 common share + 1 warrant).

  • Post‑closing leadership: Alex Kagel (CEO of WILDCARD) will continue as President of WILDCARD, reporting to TrustBIX’s CEO.

  • Consideration Unit Structure

  • Each unit includes one common share of TrustBIX and one warrant.

  • Warrants allow purchase of an additional common share at $0.08 per share for a period of two years from the closing date of each transaction.

  • Timeline & Conditions

  • Best‑efforts agreement to negotiate definitive agreements by 20 March 2026.
  • Completion subject to: due‑diligence, board approvals (both parties), TSX Venture Exchange approval, and any other required third‑party consents.

  • No finder's fee anticipated for either transaction.

  • Forward‑looking Statements

  • The press release contains forward‑looking information regarding the execution of definitive agreements and completion of the proposed transactions; actual results may differ due to risks and uncertainties outlined in the disclaimer.

Notable Quotes

“We are excited to consolidate more technology depth and talent into our company allowing us to offer more support to our agricultural businesses, partners, and customers.” – Hubert Lau, CEO, TrustBIX

All boilerplate, safe‑harbor statements, and contact information have been omitted for brevity.

Read the original news release →

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M&A / Property