CloudMD Software & Services Inc. (TSXV:DOC) signed a binding term sheet to acquire Aspiria Corp. for CAD 2.6 million on January 18, 2021. As part of the consideration, CloudMD has agreed to pay shareholders of Aspiria aggregate consideration of CAD 3 million payable as follows: (i) CAD 0.89 million in cash, subject to a working capital adjustment; (ii) CAD 1.05 million in common shares of the CloudMD representing 0.46 million shares and (iii) a performance-based earnout of CAD 0.75 million representing 0.32 million shares, which is payable in common shares of the CloudMD after a period of 1 year. Aspiria will become part of CloudMD’s Enterprise Health Solutions Division. The acquisition is subject to customary closing conditions, including the execution of a definitive acquisition agreement and receipt of TSX Venture Exchange approval. Upon closing, the acquisition of Aspiria will be immediately accretive to CloudMD with synergies the company believes will drive further revenue and increased EBITDA margins throughout its Enterprise Health Service division.