Deveron Corp. completed the acquisition of Assets of Frontier Labs Inc.
Deveron Corp. (TSXV:FARM) completed the acquisition of Assets of Frontier Labs Inc on October 31, 2022. As consideration the Company has agreed to pay an aggregate $1.65 million in cash, and issue an aggregate 1.1 million common shares at a price of $0.50 per common share over a two-year period. In addition, the Vendor is entitled to receive three EBITDA milestone payments equal to 25% of the excess gross revenue upon certain milestones that is payable in cash and up to 0.28 million common shares.