Realbotix Announces Strategic Partnership with Star Walk Partners
Realbotix Corp. (TSX-V: XBOT, Frankfurt: 76M, OTC: XBOTF), a leader in humanoid robotics and relationship-based AI, announced a strategic minority interest acquisition in Star Walk Partners Star Walk, led by Gary Fuhrman, specializes in investing and assisting middle market-branded consumer product and media companies. As part of the deal, Star Walk will support Realbotix in product marketing and sales, targeting new verticals such as entertainment, healthcare, and education. Realbotix will issue 25 million warrants to Star Walk, exercisable over five years at US$0.15 and US$0.20 per share for different tranches. The transaction has received conditional approval from the TSX Venture Exchange.
- Realbotix's partnership with Star Walk is expected to enhance product marketing and sales efforts.
- The collaboration opens growth opportunities in various verticals like entertainment, healthcare, and education.
- Conditional approval from the TSX Venture Exchange has been obtained for the transaction.
- Issuance of 25 million warrants could lead to shareholder dilution over time.
- Exercise of the warrants may result in Star Walk becoming an insider, affecting company control.
Star Walk is led by Gary Fuhrman, who has a long and distinguished track record of investing and providing assistance to middle market-branded consumer product and media companies. Gary is also the Chairman and CEO of GF Capital. Current and past investments of GF Capital include Tommy Hilfiger, Warner Music Group, Oscar de la Renta, Blue Man Group, 300 Entertainment, GF Sports, Jonathan Adler, and Airborne. As part of the acquisition, Star Walk will assist Realbotix with its product marketing and sales efforts, including expansion into new verticals.
“Our partnership with Star Walk is a pivotal step in our journey to revolutionize the field of humanoid robotics and AI,” said Andrew Kiguel, CEO of Realbotix. “We are confident that this collaboration will significantly enhance our operational strengths and accelerate our growth trajectory.”
“Next-generation, customizable robots with human-like appearance and movement integrated with AI is a large potential market spanning a number of key verticals including entertainment, healthcare, education, and other market segments” said Gary Fuhrman. “We are excited to work with Realbotix to help the company unlock its numerous growth opportunities.”
As consideration for the acquisition, Realbotix will issue to Star Walk an aggregate of 25 million warrants (the “Warrants”) to purchase common shares in the capital of the Company (the “Common Shares”), such Warrants exercisable at six (6) month intervals in seven (7) tranches (the “Tranches”) over a period of five (5) years, with an exercise price of: (a)
The Company will own a minority, non-controlling membership interest in Star Walk and has obtained conditional approval from the TSX Venture Exchange in connection with the transaction. Star Walk is an arm’s length party to the Company. No broker, agent or finder’s fee is payable in connection with the transaction.
To learn more about Realbotix, visit www.realbotix.ai.
About Realbotix
Realbotix creates customizable, human-like robots with AI integration that improve the human experience through learning, connection and play. Manufactured in
We operate in a niche part of the massive robotics and AI sectors: Our robots provide companionship to humans. We achieve this through patented technologies that deliver human-like appearance and movements, and our proprietary companionship AI. In addition, our patented silicone skin technology has versatile uses within our robotic products and within healthcare markets such as prosthetics. We have thousands of customers across more than a hundred countries.
Visit Realbotix.AI to learn more.
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Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240710543310/en/
Realbotix Corp.
Andrew Kiguel, CEO
Email: contact@realbotix.ai
Jennifer Karkula, Head of Communications
Email: contact@realbotix.ai
Telephone: 647-578-7490
Source: Realbotix Corp.
FAQ
What is the significance of Realbotix's partnership with Star Walk Partners for XBOTF?
How many warrants will Realbotix issue to Star Walk Partners as part of the deal?
What are the exercise prices for the Realbotix (XBOTF) warrants issued to Star Walk?
What approval has Realbotix received for its transaction with Star Walk Partners?
