TORONTO and TAMPA, Fla., Sept. 28, 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 it has executed a membership interest purchase agreement (the “Agreement“) for the acquisition of all of the issued and outstanding limited liability company membership interests (the “Acquisition”) of RealWealth Technologies LLC (“RealWealth“).
RealWealth has developed a proprietary, investor-centric digital platform intended to change consumer behavior through the democratization of data, content, tools, and fiduciary support. With the Acquisition, RealWealth will be repositioned as VoxturWealth.
Consideration for the Acquisition will consist of three million common shares of Voxtur to be issued at closing (the “Consideration Shares”), and an additional two million common shares to be held in escrow and released upon the achievement by RealWealth of certain EBITDA targets as set forth in the Agreement (the “Additional Shares“).
Voxtur’s industry-leading technology solutions and workflow management combined with the vision and software solutions of RealWealth will make VoxturWealth the most trusted and relied upon real estate management platform in North America. RealWealth was founded by Ross McCredie (“McCredie“), a real estate industry veteran whose success in technology development and partnership building will bring vitality and innovation to the overall growth strategy of Voxtur.
“The acquisition of RealWealth by Voxtur brings a new standard of integrity and confidence to real estate management in North America. VoxturWealth will engage feature elements of Voxtur companies to arm owners and fiduciaries with complete, verified data and an ability to make more informed decisions around real estate assets,” said CEO Jim Albertelli. “We are looking forward to VoxturWealth becoming an invaluable industry resource and see this acquisition as a step forward in our transition to a full-service real estate technology platform.”
“The combination of our platforms and our people will be another major step in the vision of Voxtur and we couldn’t be more excited about joining forces,” said McCredie.
Completion of the Acquisition is subject to the receipt of all required regulatory, corporate and third-party approvals, including the approval of the TSX Venture Exchange (the “TSXV”).