Welcome to our dedicated page for Ackroo news (Ticker: AKRFF), a resource for investors and traders seeking the latest updates and insights on Ackroo stock.
Ackroo Inc. (OTC: AKRFF), formerly listed on the TSX Venture Exchange as AKR, generated a consistent stream of corporate news as a gift card, loyalty marketing, payments and point-of-sale technology consolidator and services provider. Its news flow covered strategic transactions, shareholder approvals, financing arrangements and operating performance, providing context for investors tracking the company’s evolution and eventual sale.
One major theme in Ackroo’s news was its go‑private transaction with Paystone Inc. The company announced the signing of a definitive arrangement agreement with Paystone, followed by updates on shareholder voting, court approvals and the final completion of the statutory plan of arrangement. These releases detailed how Paystone’s subsidiary Atom Growth Inc. acquired all Ackroo shares, assumed its assets and liabilities, and set the stage for delisting and ceasing to be a reporting issuer.
Ackroo’s news archive also includes quarterly financial results, where the company discussed recurring subscription revenue from its cloud-based marketing platform, adjusted EBITDA trends and its focus on earnings generation and operational efficiency. Additional releases describe the restructuring of a loan with BDC Capital and the implementation of a normal course issuer bid to repurchase and cancel common shares.
Visitors to this news page can review historical announcements related to Ackroo’s business performance, capital structure decisions, debt arrangements and the steps leading to its acquisition by Paystone. For anyone researching the AKRFF symbol, these articles provide a detailed record of how Ackroo positioned itself as an industry consolidator in gift card, loyalty marketing, payment and point-of-sale solutions and how that strategy culminated in the completed transaction with Paystone.
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Ackroo Inc. announced the sale of GGGolf, its golf course management solution, to a Quebec-based investment group. The transaction involves an upfront payment of $1,200,000 and an additional $50,000 monthly for eight months, totaling $1,600,000. The new entity, named GGGolf Technologies Inc., aims to provide comprehensive club management software. This divestiture allows Ackroo to focus on its core business of loyalty marketing and payment solutions, while strengthening its financial position.
Ackroo has announced a definitive agreement to divest all assets associated with GGGolf to a Quebec-based investment group, effective March 31, 2023. The transaction will total $1,600,000, comprising $1,200,000 in cash at closing and $400,000 distributed over eight months. The move aims to refocus Ackroo on its core business following disappointing strategic outcomes from the GGGolf acquisition. CEO Steve Levely highlighted the necessity of this divestiture to better support their marketing and payment solutions. The investment group acquiring GGGolf includes current GGGolf affiliates, ensuring a smooth transition for clients.
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