Jeffs’ Brands (US:JFBR) Thenewswire·2025-07-07 18:20Core Viewpoint - Impact Acquisitions Corp. has successfully completed a share sale transaction with Jeffs' Brands Ltd, resulting in a name change to Fort Technology Inc. and a new trading symbol "FORT" [1][2]. Transaction Details - The transaction involved the transfer of all issued and outstanding securities of Fort Products Limited to the Company in exchange for 100,000,000 common shares and 66,000,000 contingent rights [3]. - The contingent rights allow Jeffs Brands to acquire additional common shares based on specific conditions, including a successful listing on a US Exchange, raising US$8,000,000 in financing, and achieving annual revenues of US$15,000,000 by December 31, 2028 [4]. Share Issuance and Trading - The Company issued 5,000,000 common shares as a finder's fee related to the transaction [5]. - Trading of the Company’s shares under the new symbol "FORT" is expected to resume on or about July 10, 2025, following final acceptance from the TSX Venture Exchange [6]. Escrow Agreements - Certain principals of the Company will have 102,000,000 common shares and 66,000,000 contingent rights subject to escrow, with a release schedule defined by Exchange policies [7]. - Current and former shareholders are also subject to a separate escrow agreement regarding 3,700,000 common shares and 580,000 incentive stock options [8]. Management and Governance - The new board of directors and executive management includes Gabriel Kabazo as CEO and Ronen Zalayet as CFO, among others [9]. - The Company plans to appoint Brightman Almagor Zohar & Co. as its auditors [10]. Financial Reporting - The fiscal year end for the Company will be December 31, and interim financial statements for Fort Products will be published within 60 days after June 30, 2025 [11]. Company Overview - Fort Technology Inc. specializes in manufacturing and selling products for the pest control and remedial repair industry, with nearly 20 years of experience since its establishment in 2005 [12].