Pluribus Technologies Corp. (TSXV:PLRB) entered into a Share Purchase Agreement to acquire Tortal Training Inc. for approximately $1.9 million on May 16, 2022. Pursuant to the terms of the Share Purchase Agreement, the Company has agreed to pay the current shareholders of Tortal an aggregate of approximately US$1.4 million in cash and issue 175,926 common shares of the Company for a total purchase price of approximately US$1.9 million. In addition, the current Tortal shareholders will be entitled to an earn-out based on the achievement of future performance targets by Tortal. The price paid for the acquisition falls within Pluribus' historical target range for Adjusted EBITDA1 and the acquisition is expected to be immediately accretive. Evan Hackel, the CEO of Tortal, e will remain involved in Tortal post-acquisition to ensure a smooth integration into the Pluribus portfolio of companies.

Pluribus Technologies Corp. (TSXV:PLRB) completed the acquisition of Tortal Training Inc. on May 17, 2022.