Core Viewpoint - Lite Access Technologies Inc. is providing additional details regarding the acquisition of Ironman Directional Drilling, which is expected to enhance the company's operational capabilities and financial performance through increased gross margins and revenue growth [1][4]. Group 1: Acquisition Details - The acquisition involves a definitive share exchange agreement dated December 7, 2024, to acquire Ironman and its U.S. subsidiary for approximately $8 million in shares and $6 million in cash [1][3]. - The final consideration includes 85,392,538 shares, representing nearly 50% of the company post-listing, and deferred cash payments of $1.2 million per year for five years [3]. Group 2: Business Rationale - The acquisition is expected to improve gross margins as the company has previously faced negative margins due to reliance on subcontractors for directional drilling services [4]. - The combination of Lite Access and Ironman is anticipated to increase revenue through the integration of Ironman's existing revenue and the ability to offer Ironman's services on new projects [4]. Group 3: Management and Governance - The acquisition will bring in an experienced management team from Ironman, which is expected to positively impact the company's ability to bid for and execute larger fiber optic projects [5]. - Mr. Irmen, a director of Lite Access and principal of Ironman, recused himself from board discussions regarding the acquisition to ensure minority shareholder protection [5]. Group 4: Company Background - Lite Access is recognized as an industry leader in telecommunications, providing integrated solutions for various telecom requirements, including fiber optic installations [7][9]. - Ironman Directional Drilling, established in 1999, specializes in trenchless horizontal directional drilling services across Western Canada, focusing on cost-effective and minimally invasive underground infrastructure installations [11].