GIC Merchant Bank Corp. agreed to acquire an unknown minority stake in Bay Talent Group Inc. and Emerge Commerce Inc. from Gravitas Financial Inc. (CNSX:GFI) and Gravitas Ventures Inc. on July 25, 2019. The Transaction includes a cash purchase price for the securities of CAD 0.45 million, payable at closing. GVI has also agreed to direct its portion of the proceeds to GFI in repayment of indebtedness owing by it to Gravitas. In a related transaction, IliumCrowd Inc. agreed to acquire a minority stake in GIC Merchant Bank Corp. from Gravitas Financial Inc. (CNSX:GFI) on July 25, 2019. All members of the board of directors of Gravitas entitled to vote on the Transaction also approved it, and it was further approved by the full board of directors of GVI as well. The Transaction is subject to certain closing conditions and is expected to close on July 29, 2019. FTI Capital Advisors, L.L.C. acted as financial advisor for Gravitas. GIC Merchant Bank Corp. cancelled the acquisition of an unknown minority stake in Bay Talent Group Inc. and Emerge Commerce Inc. from Gravitas Financial Inc. (CNSX:GFI) and Gravitas Ventures Inc. on July 25, 2020.