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Calyx Bio-Ventures to Acquire Additional Software Assets
Nov. 08, 2016 08:20AM PST
Technology InvestingCalyx Bio-Ventures (TSXV:CYX) has entered into a letter of intent to acquire the rights to an existing software framework to provide additional flexibility to aggregate users onto a single forum, and at the same time allow them to participate in specialized forums or communicate privately. Calyx’s wholly-owned subsidiary, Cannigistics Agri-Solutions Corp., has a software platform …
Calyx Bio-Ventures (TSXV:CYX) has entered into a letter of intent to acquire the rights to an existing software framework to provide additional flexibility to aggregate users onto a single forum, and at the same time allow them to participate in specialized forums or communicate privately. Calyx’s wholly-owned subsidiary, Cannigistics Agri-Solutions Corp., has a software platform tailored to advanced indoor agriculture.
As quoted in the press release:
This technology is expected to seamlessly integrate into the Company’s existing FocusPoint Software Platform, which forms the basis of the Company’s LEAFHub Communications Cloud product.
In consideration for the acquisition, the Company will issue 2,500,000 common shares and will complete cash payments of (Cdn) $200,000 over a twelve-month term.