TORONTO and TAMPA, Fla. , Oct. 14, 2021 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company“), a technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that, further to the news release issued on September 28, 2021, it has completed the acquisition (“Acquisition”) of RealWealth Technologies LLC (“RealWealth”). With the Acquisition now complete, RealWealth will be repositioned as VoxturWealth.
RealWealth has developed a proprietary, investor-centric digital platform intended to change consumer behavior through the democratization of data, content, tools, and fiduciary support. From management of home service contracts and vendors to the prevention of financial elder abuse through an encrypted asset documentation repository, each aspect of the client’s real estate investment will be transparent and verified. At every step, homeowners and their trusted advisors will be empowered by data driven tools to make better, more confident real estate decisions.
Total consideration for the Acquisition consisted of five million common shares in the capital of Voxtur (each, a “Common Share“) with an aggregate value of approximately $4,200,000. Three million Common Shares were issued upon the closing of the Acquisition and a further two million Common Shares will be held in escrow and released upon the achievement by RealWealth of certain EBITDA targets.
RealWealth was founded by Ross McCredie, founder of Sotheby’s International Realty Canada, and architect of the sale of Pacific Union to Compass, forming the largest independent real estate brokerage in the United States.
In concert with the experience and innovative technologies of other Voxtur companies like ANOW and Voxtur Valuation, VoxturWealth will empower real estate owners and their fiduciaries with unprecedented transparency and verified data to make better decisions.
“We see VoxturWealth becoming an invaluable industry resource. This acquisition and our work together are important benchmarks for our transition into a full-service real estate technology company,” said Voxtur CEO Jim Albertelli.
The Acquisition constituted an “Expedited Acquisition” in accordance with TSX Venture Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets and remains subject to final approval by the TSX Venture Exchange. All references to currency in this release are reference to Canadian dollars.
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
This news release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may not be realized. These statements relate to future events or future performance and reflect management’s current expectations and assumptions which are based on information currently available to management. There is significant risk that forward-looking statements will not prove to be accurate. A number of factors could cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements discussed in the forward-looking statements. The inclusion of forward-looking statements and information should not be regarded as a representation of Voxtur or any other person that the anticipated results will be achieved, and investors are cautioned not to place undue reliance on such information.
These forward-looking statements are made as of the date of this news release and, accordingly, are subject to change after such date. Voxtur 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.