Jaxsta Limited (ASX:JXT) entered into a Heads of Agreement to acquire Vampr Inc. for $3.4 million on February 22, 2022. Jaxsta will acquire 100% of the assets or the entire Issued Capital of Vampr, in exchange for 88,734,476 shares in Jaxsta. The Equity Consideration will be subject to an escrow period of one year. In addition to the Equity Consideration, Jaxsta will pay up to $250,000 and any accrued interest within one year of completion to extinguish a short-term loan facility provided by a Vampr Director to Vampr. The Cash Consideration may be converted into shares at an exercise price of $0.05 anytime during that 1 year period. Jaxsta will pay the verifiable legal and accounting costs of Vampr capped at $15,000. Any such equity incentives will be subject to Shareholder approval and have no less than a 10 year expiry date. Josh Simons, the founder and Chief Executive Officer of Vampr will be joining Jaxsta as Chief Strategy Officer and will become an observer to the board of Jaxsta. The Board of Directors will be seeking shareholder approval on the transaction. As on May 30, 2023 Jaxsta Limited obtained shareholder approval on the transaction. The transaction will be settled on June 1, 2023.

Jaxsta Limited (ASX:JXT) acquired Vampr Inc. on June 1, 2023.