TrustBIX Inc. Receives Exchange Conditional Acceptance and Completes the Acquisition of Alberta Food Security Inc.
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Edmonton, Alberta--(Newsfile Corp. - October 31, 2023) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") is pleased to announce that further to its press releases dated August 14, 2023 and August 31, 2023, the Company has received TSX Venture Exchange conditional acceptance and satisfied the remaining closing conditions to complete the acquisition of Alberta Food Security Inc. ("AFS").
AFS holds the exclusive Alberta territory license, along with opportunity to acquire additional North American and international territories from AgriPlay (www.AgriPlay.com ), an innovative Controlled Environment Agriculture (CEA) vertical indoor farming company. This acquisition allows TrustBIX to harness the potential of the AgriPlay technology and amplify the Company's efforts in promoting sustainable agriculture practices with complete traceability from Gate to Plate®.
Pursuant to the terms of the definitive agreement, TrustBIX will acquire
Hubert Lau, CEO of TrustBIX, said "Since our announcement in August, we have been working closely with the AFS team. Our teams work well with each other, and we have found tremendous synergies. We look forward to growing TrustBIX and AFS together to enhance shareholder value."
Adam Morand, President of AFS, stated "We are excited to begin creating value for the TrustBIX shareholders. As a newly minted TBIX shareholder our objectives are aligned. It is our hope to add valuable bench strength to the TBIX team amplifying the tremendous agri-food opportunities we see on the road ahead."
About Alberta Food Security Inc.
AFS is dedicated to advancing food security and agricultural sustainability within the province of Alberta. As the exclusive territory licensee for AgriPlay with the opportunity to expand into other territories and regions throughout North America and internationally, AFS aims to harness innovative solutions to ensure a resilient and sustainable food supply chain for the benefit of all Albertans.
About TrustBIX (TSXV: TBIX)
The vision is to create a world where we trust more and waste less by leveraging BIX and its technology solutions. TrustBIX delivers independent validation of provenance and sustainable practices within multiple supply chains and industries.
BIX Location Services offer solutions to supply chains that bring situational awareness for high-value assets.
ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in North America and China.
Forward-Looking Information
This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185778
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