PeakBirch Commerce Inc. agreed to acquire 8651159 Canada Inc. and Kiaro Australia Pty Ltd. from Kiaro Brands Inc. and Kiaro Digital Inc. for CAD 0.25 million.

PeakBirch Commerce Inc. (CNSX:PKB) proposes to acquire 8651159 Canada Inc. and Kiaro Australia Pty Ltd. from Kiaro Brands Inc. and Kiaro Digital Inc. for CAD 0.25 million on January 17, 2023. PeakBirch Commerce Inc. entered into an agreement to acquire 8651159 Canada Inc. and Kiaro Australia Pty Ltd. from Kiaro Brands Inc. and Kiaro Digital Inc. for CAD 0.25 million on February 23, 2023. The transaction is subject to negotiation and execution of definitive agreement, receipt of all necessary regulatory approvals including, but not limited to, TSX Venture Exchange approval, the satisfactory completion of due diligence, and the satisfaction of certain other closing conditions customary in transactions of this nature.

Kiaro Board of Directors recommends that Kiaro Shareholders vote in favor of the transaction. The expected closing date is June 30, 2023. MLT Aikins LLP acted as legal advisor to Kiaro Brands and Kiaro Digital.