TORONTO, Oct. 11, 2024 /CNW/ - Pluribus Technologies Corp. (TSXV: PLRB) ("Pluribus" or the "Company") is pleased to announce the closing of the sale (the "Transaction") of all of the issued and outstanding fully-diluted shares of its wholly-owned subsidiaries, POWR Inc., Assured Software Ltd. and Pluribus Technologies Limited (which includes its wholly-owned subsidiaries, Rowanwood Professional Services Limited ("Rowanwood") and Cranham Haig Limited) (collectively, the "Target Companies"), for an aggregate purchase price of C$17,000,000, payable in cash (the "Purchase Price"), on a cash-free, debt-free basis and subject to a working capital adjustment, and deductions for closing income tax payable, transaction expenses, and holdbacks, where applicable (the "Closing Payment"). The sale was executed pursuant to the terms of a share purchase agreement dated October 11, 2024, among holding companies jointly held by Acorn Partners Inc. and Pender Growth Fund Inc., as buyers, the Company, and Pluribus Technologies Canada Inc., as sellers, and Acorn Partners Inc. and Pender Growth Fund Inc., as guarantors.
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