PopReach Corporation (TSXV:POPR) agreed to acquire Schiefer Chopshop for $14.9 million on April 18, 2023. Aggregate consideration of up to approximately $14.9 million, being comprised of $2 million in cash (the "Cash Consideration"), the issuance of 4,400 Class B non-voting shares of Acquisition Subsidiary (the "Class B Shares"), the issuance of a vendor take back note in the amount of $5.5 million (the "VTB Note"), the issuance of a convertible debenture in the aggregate principal amount of $750,000 (the "Debenture"), and earn out payments of up to $1.5 million payable in each of the first two years following closing of the Transaction (the "Closing") based upon the achievement of certain financial performance objectives by SCS. The Company has sourced bridge financing (the "Bridge Financing") in the principal amount of $2 million from a third-party lender (the "Bridge Lender") to fund the Cash Consideration payable on Closing. In the Twelve months ended December 31, 2022, Schiefer Chopshop reported a total revenues of $17,782,000, net income of $54,000 and EBITDA of $1,682,000. SCS will continue to be led by its Chief Executive Officer, James Schiefer, who will be an insider of PopReach by virtue of being an officer of SCS. The Transaction has been conditionally approved by the Exchange, subject to customary conditions, and remains subject to final acceptance by the Exchange.

PopReach Corporation (TSXV:POPR) completed the acquisition of Schiefer Chopshop on April 18, 2023.