GlobeNewswire — 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”).
About Voxtur
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.
Cautionary Note
Completion of the Acquisition is subject to a number of conditions, including but not limited to, any necessary stock exchange or other regulatory approvals. The Acquisition cannot close until the required approvals are obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. Investors are cautioned that any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. The TSX Venture Exchange has in no way passed upon the merits of the Acquisition and has neither approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
Forward Looking Information: 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.