Xigem Technologies Corporation (CNSX:XIGM) entered into Letter of Intent to acquire All Source B2B for CAD 1.6 million on February 25, 2022. In a related transaction, SCMC will enter into an exclusive 10 year agreement with All Source B2B where it will continue to provide its technology services. For the year 2021, All Source B2B reported revenue of CAD 2.65 million and EBITDA of 0.318 million.

The Transaction is subject to customary conditions including the completion of due diligence, the execution of definitive agreements and the receipt of any regulatory approvals. The Transaction is expected to close within the next 60 days, but may be extended to 120 days. Future B2B revenue, if achieved, would be purely accretive to Xigem.