Dr. Phone Fix Canada Limited entered into a binding letter agreement to acquire Auka Capital Corp. (TSXV:AUK.P) for CAD 12.1 million on April 23, 2024. Dr. Phone Fix Canada Limited entered into a definitive agreement to acquire Auka Capital Corp. (TSXV:AUK.P) for CAD 12.1 million on July 16, 2024. For each issued and outstanding common share of DPF will be acquired by a newly-formed subsidiary of Auka for aggregate consideration of CAD 12 million to be satisfied through the issuance of 60 million common shares in the capital of Newco, each Newco Share having a deemed value of CAD 0.20. DPF has 6,555,811 Class A Common shares issued and outstanding. Additionally, approximately $5.5 million in DPF debt will, under the terms of the Transaction, be converted into approximately 3 million DPF Shares prior to closing of the transaction. In connection with the completion of the amalgamation, each holder of DPF shares shall exchange their DPF shares for common shares in the capital of the Resulting Issuer on the basis of 9.15218640916375 fully paid and non-assessable Resulting Issuer common shares for every one DPF share held. Immediately following the completion of the Transaction, the Resulting Issuer is expected to change its name to "Dr. Phone Fix Corporation", and the Resulting Issuer is expected to be an Industrial issuer under the policies of the exchange.

The transaction is subject to approval of the transaction by the boards of directors of the Corporation and DPF, satisfactory completion of due diligence and execution of the Formal Agreement. The transaction is also subject to acceptance by the Exchange and receipt of other applicable regulatory approvals, receipt of the requisite approval of the shareholders of DPF and completion of the Private Placement. Auka and DPF anticipate closing the transaction in October 2024.