BULLETIN V2025-0768
HANK PAYMENTS CORP. ("HANK")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 13, 2025
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to a Share Purchase Agreement (the "Agreement") dated February 24, 2025, between the Company and several arm's length parties (the "Vendors"), whereby the Company acquired all interest in FUTR Inc., a private technology company that will allow the Company to consume and store key customer data in a SOC 2 compliant and encrypted platform (the "Target").
Under the terms of the Agreement, the Company acquired the Target in exchange for:
1) issuance of 172,949,626 common shares of the Company;
2) assumption the Target's liabilities of (i) $1,000,000 owed to its parent, which will be repaid beginning on August 1, 2025 in the amount of $16,667 per month until repaid, without accruing any interest and (ii) $130,000 promissory note owed to Target's parent coming due on July 2nd, 2026 and accruing interest at 18% a year.
Additionally, Clarus Securities Inc. acted as advisor in connection with the acquisition of the Target and was entitled to an advisory fee of $216,250, which was settled by way of issuance of 4,325,000 common shares of the Company on closing at a value of $0.05 per share.
For further details, please refer to the Company's news releases dated August 20, 2024, August 29, 2024, January 23, 2025 and February 25, 2025.
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