Ackroo - AKRFF STOCK NEWS

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF), a provider of gift card, loyalty marketing, payments and point-of-sale technology services, has received final approval from the Ontario Superior Court of Justice for its proposed arrangement with Paystone Inc.

The court order, granted on March 3, 2025, approves the arrangement under which Paystone will acquire all issued and outstanding common shares of Ackroo and assume all assets and liabilities. The arrangement, originally agreed upon on December 12, 2024, and amended on February 3, 2025, is expected to close on March 14, 2025, subject to TSX Venture Exchange approval and satisfaction of closing conditions.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has announced the successful voting results from its annual general and special meeting held on February 24, 2025. Shareholders overwhelmingly approved the special resolution for a statutory plan of arrangement that will allow Paystone Inc. to acquire all issued and outstanding Ackroo shares and assume all company assets and liabilities.

The arrangement received strong support with 99.91% of eligible votes cast in favor. A total of 83,212,289 shares were represented at the meeting, accounting for approximately 72.36% of all outstanding shares. The resolution passed both required thresholds, securing more than two-thirds (66⅔%) of total votes and majority approval from minority shareholders.

The final court hearing to approve the arrangement is scheduled for March 3, 2025. The transaction remains subject to final court and regulatory approvals, including TSX Venture Exchange approval, with completion anticipated in Q1 2025.

Ackroo (TSX-V: AKR; OTC: AKRFF) has provided an update regarding the voting process for its upcoming annual general and special meeting scheduled for February 24, 2025. The company clarified details about the statutory plan of arrangement approval requirements, which needs: (i) at least two-thirds (66⅔%) of votes cast by shareholders present or by proxy, and (ii) a majority approval (50% + 1) excluding certain interested parties.

To ensure fair treatment and comply with MI 61-101 requirements, votes from directors Bergeron-Bellanger, Clare, and French, who collectively hold approximately 8.6% of outstanding shares, will be excluded from the minority approval calculation. The company has also extended the proxy submission deadline to the start of the meeting at 10:00 a.m. (Eastern Time) on February 24, 2025.

Ackroo has announced its annual general and special meeting scheduled for February 24, 2025, where shareholders will vote on the company's sale to Paystone. The meeting will take place at 10:00 p.m. Eastern Time in Stoney Creek, Ontario. Paystone has secured formal financing commitment through its banking partners.

For the arrangement to proceed, it requires approval from two-thirds (66⅔%) of shareholder votes and a majority (50% + 1) of minority shareholders. The Board of Directors unanimously recommends voting FOR the arrangement. The Ontario Superior Court of Justice has granted an interim order for the meeting proceedings.

The companies have extended the completion deadline to March 31, 2025. The arrangement remains subject to shareholder approval, regulatory approvals, and final court order.

Ackroo Inc. (AKRFF) has signed a definitive arrangement agreement to be acquired by Paystone Inc. in an all-cash transaction valued at $21 million. Paystone will acquire all outstanding Ackroo shares at $0.15 per share, representing a 25% premium over the previous closing price and a 36% premium over the 90-day volume weighted average price.

The transaction includes the assumption of approximately $3 million in BDC debt and covers about 9 million in-the-money options. CEO Steve Levely will transition to the role of Chief Operating Officer at Paystone. The deal is expected to close in February 2025, subject to shareholder approval and other conditions. Upon completion, Ackroo will be delisted from TSX Venture Exchange.

Ackroo (TSX-V: AKR; OTC: AKRFF) reported Q3 2024 financial results showing mixed performance. While total revenue decreased by 4% to $1,551,696 compared to Q3 2023, subscription revenue grew 1% to $1,411,166. The company achieved significant EBITDA growth of 35% year-over-year, reaching $530,937 (34% of total revenue). Year-to-date adjusted EBITDA increased 43% to $1,552,275. Gross margins slightly declined to 88% from 91%. The company utilized $175,000 of earnings for share buybacks and debt reduction while focusing on operational efficiency and cash generation.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has announced a restructuring of its loan with BDC Capital. The company has agreed to a 12-month payment plan for the remaining $3,000,000 principal balance, starting September 30, 2024. The new plan includes:

• Minimum monthly payments of $50,000 for 12 months
• A final balloon payment of $2,450,000 due on August 31, 2025
• Option to pay the full principal balance without prepayment penalties

The loan's other terms, including the 9.3% base interest rate plus 1.7% variance, remain unchanged. This restructuring allows Ackroo to continue its acquisition strategy while managing debt repayment.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has released its Q2 2024 financial results, showing significant EBITDA growth despite modest revenue increases. Key highlights include:

- Total revenue of $1,633,238, up 1% YoY
- Recurring subscription revenue of $1,461,199, up 4% YoY
- Adjusted EBITDA of $515,635, a 113% increase YoY
- EBITDA margin of 32%, up from 15% in Q2 2023

While H1 2024 saw a 7% decrease in total revenue compared to H1 2023, the company achieved a 47% increase in adjusted EBITDA. CEO Steve Levely emphasized the company's focus on increasing earnings and cash flow to support potential growth strategies and improve its financial position.

Ackroo has received approval from the TSX Venture Exchange to proceed with its Normal Course Issuer Bid (NCIB), announced on June 17, 2024. The NCIB allows Ackroo to purchase up to 5,765,248 of its outstanding common shares over a 12-month period starting July 8, 2024, representing approximately 5% of its share capital. The company may not acquire more than 2% of the shares in any 30-day period. These purchases will take place on the open market at prevailing prices, and all acquired shares will be cancelled. The NCIB will be managed by Canaccord Genuity and funded from Ackroo's working capital. No company insiders are currently planning to sell shares to Ackroo under this program. Ackroo previously completed an NCIB on December 7, 2023, purchasing and canceling 6,068,681 shares.