Voxtur Announces the Issuance of Shares in Connection with the Acquisition of MTE
February 02 2024 - 5:32PM
Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the
“Company”), a North American technology company creating a more
transparent and accessible real estate lending ecosystem, is
pleased to announce that pursuant to the prior press release dated
July 5, 2022, the Company intends to issue (the “Issuance”) an
aggregate of 5,500,000 common shares in the capital of the Company
(the “Common Shares”) at a deemed price of $0.094 per share in lieu
of cash payable for the aggregate amount of $500,000 (being the
outstanding cash balance of the remaining purchase price for the
acquisition of Municipal Tax Equity Consultants Inc. and MTE
Paralegal Professional Corporation (collectively, “MTE”)), held in
escrow for 18 months pursuant to an escrow agreement between the
Company, the escrow agent, the seller and the guarantor (the
“Escrow Amount”).
Pursuant to an amended and restated escrow
agreement, the escrow agent will return in cash, the Escrow Amount
(together with all interest, dividends, income, capital gains and
other amounts earned thereon or derived therefrom) to the Company
and the Company will issue 5,500,000 Common Shares to the seller in
lieu of cash payable for the Escrow Amount.
The Issuance is considered to be a shares for
debt transaction pursuant to the policies of the TSX Venture
Exchange (the "TSXV") and remains subject to TSXV approval.
About Voxtur
Voxtur is a transformational proptech company
that is redefining industry standards in a dynamic lending
environment. The company offers targeted data analytics to simplify
the multifaceted aspects of the lending lifecycle for investors,
lenders, government agencies and servicers. Voxtur’s proprietary
data hub and workflow platforms more accurately and efficiently
value real estate assets, providing critical due diligence that
enables market participants to effectively originate, trade, or
service defaults on mortgage loans. As an independent and
transparent mortgage technology provider, the company offers
primary and secondary market solutions in the United States and
Canada. For more information, visit www.voxtur.com.
Neither TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
This news release contains forward-looking
statements and forward-looking information (collectively,
“forward-looking information”). Any information contained herein
that is not based on historical facts may be deemed to constitute
forward looking information within the meaning of Canadian and
United States securities laws. Forward-looking information may be
based on expectations, estimates and projections as at the date of
this news release, and may be identified by the words “may”,
“would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”,
“believe”, “estimate”, “expect” or similar expressions.
Forward-looking information may include, but is not limited to: the
completion of the Issuance; approval of the Issuance by the TSXV;
expectations for the effects of certain milestones or the ability
of the Company to successfully achieve certain business objectives;
the effects of unexpected costs, liabilities or delays; success of
software activities; expectations for other economic, business,
environmental, regulatory and/or competitive factors related to the
Company, or the real estate industry generally; anticipated future
production costs; and other events or conditions that may occur in
the future. Investors are cautioned that forward-looking
information is not based on historical facts but instead reflects
estimates or projections concerning future results or events based
on the opinions, assumptions and estimates of management considered
reasonable at the date the information is provided. Although the
Company believes that the expectations reflected in such
forward-looking information are reasonable, such information
involves risks and uncertainties, and undue reliance should not be
placed on such information, as unknown or unpredictable factors
could have material adverse effects on future results, performance,
or achievements of the Company. Among the key factors that could
cause actual results to differ materially from those projected in
the forward-looking information include but are not limited to:
additional costs related to acquisitions; changing global financial
conditions, especially in light of the COVID-19 global pandemic;
reliance on specific key employees and customers to maintain
business operations; competition within the Company’s industry; a
risk in technological failure or failure to implement technological
upgrades; the Company’s dependence on maintaining intellectual
property; operating losses and negative cash flows; and currency
fluctuations. Accordingly, readers should not place undue reliance
on forward-looking information contained herein.
This forward-looking information is provided as
of the date of this news release and, accordingly, is subject to
change after such date. The Company does not assume any obligation
to update or revise this information to reflect new events or
circumstances except as required in accordance with applicable
laws.
Voxtur’s common shares are traded on the TSX
Venture Exchange under the symbol VXTR and in the US on the OTCQB
under the symbol VXTRF.
Contact: Jordan RossChief
Investment Officer Tel: (416) 708-9764 jordan@voxtur.com
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