Wangton Capital Corp. (TSXV:WT.H) cancelled the acquisition of Ideas Through Iris SAS.

Wangton Capital Corp. (TSXV:WT.H) signed a letter of intent to acquire Ideas Through Iris SAS in stock on February 15, 2016. As of August 24, 2016, Wangton Capital Corp., entered into a share exchange agreement to acquire Ideas Through Iris. Wangton Capital Corp., will pay 10 million of its shares for the common stock of Ideas Through Iris and an option to acquire 75% stake in Oruga Touching Dreams SAS. Completion of the transaction is subject to a number of conditions, including, but not limited to, the execution of a definitive agreement, satisfactory due diligence, and approval of the transaction by the shareholders of Wangton Capital Corp., and Ideas Through Iris SAS. Wangton Capital Corp. (TSXV:WT.H) cancelled the acquisition of Ideas Through Iris SAS on January 16, 2017. As part of the transaction, Wangton Capital Corp. advanced loans of CAD 0.43 million to Ideas Through Iris SAS. The loan bore interest at 10% and was secured by pledges over 100% of Ideas Through Iris SAS shares and 53.8% of Oruga shares. During the year ended December 31, 2017, the repayment date was extended to December 31, 2017. As at December 31, 2017, Wangton Capital Corp., determined the loan and accrued interest of CAD 0.51 million was not recoverable due to the significant financial difficulty of Ideas Through Iris SAS.