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TrustBIX Inc. Announces Letters of Intent to Acquire 100% of Zen Cyber Ltd. and 100% of WILDCARD MSP
TMX Newsfile· 2026-02-24 14:15
Core Viewpoint - TrustBIX Inc. has signed two non-binding Letters of Intent to acquire Zen Cyber Ltd. and xFacilitator Inc. (WILDCARD), aiming to enhance support for agricultural businesses [1][9]. Group 1: Zen Cyber Proposed Transaction - Zen Cyber is a cybersecurity consulting company focused on ensuring businesses comply with privacy and cybersecurity best practices [2]. - TrustBIX will acquire 100% of Zen Cyber's shares in exchange for issuing up to 6,250,000 Consideration Units on the closing date, subject to conditions in the Definitive Agreement [3]. - Jamie Swanson, CEO of Zen Cyber, is expected to continue as President of Zen Cyber after the acquisition [4]. Group 2: WILDCARD Proposed Transaction - WILDCARD is an IT managed service provider that simplifies IT support for small business owners [5]. - TrustBIX will acquire 100% of WILDCARD's shares in exchange for issuing up to 1,000,000 Consideration Units on the closing date, subject to conditions in the Definitive Agreement [6]. - Alex Kagel, CEO of WILDCARD, is expected to continue as President of WILDCARD after the acquisition [7]. Group 3: Consideration Units - Each Consideration Unit will consist of one common share and one common share purchase warrant, allowing the holder to purchase one common share at a price of $0.08 for two years from the closing date [8]. Group 4: Next Steps and Statements - TrustBIX and the respective companies aim to negotiate and execute a Definitive Agreement by March 20, 2026, with no assurance of completion [9]. - Hubert Lau, CEO of TrustBIX, expressed excitement about consolidating technology and talent to better support agricultural businesses [10].