NexTech AR to Acquire Virtual Event Webcasting Software Company

NexTech AR Solutions (CSE:NTAR,OTCQB:NEXCF) has signed a binding LOI to acquire remote video training, live streaming software company Jolokia.

As quoted in the press release:

The Jolokia platform generated $1mill USD in SaaS revenue for 2019.

The transaction will be an all stock purchase with an initial payment upon closing of 1 million shares in restricted stock priced at $1 USD ($1.38 CAD) with a 12 month earn out if certain revenue milestones are hit of an additional $4mill in restricted stock. The company is currently conducting its due diligence with an expectation of a closing in the next few.

Click here to read the full press release.