November 07, 2016 08:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 7, 2016) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to announce that it has entered into a letter of intent to acquire the rights to an existing software framework which will enhance the features of our real-time, mass communications platform. The new framework provides the additional flexibility to aggregate users onto a single forum, and at the same time allow them to participate in specialized forums or communicate privately. This technology is expected to seamlessly integrate into the Company's existing FocusPoint Software Platform, which forms the basis of the Company's LEAFHub Communications Cloud product.
In consideration for the acquisition, the Company will issue 2,500,000 common shares and will complete cash payments of (Cdn) $200,000 over a twelve-month term.
Completion of the transaction remains subject to due diligence, the approval of the TSX Venture Exchange, and certain other conditions customary in transactions of this nature. The transaction cannot be completed until these conditions are satisfied.
Calyx's wholly-owned subsidiary, Cannigistics Agri-Solutions Corp., is a software development company that has created a software platform tailored to advanced indoor agriculture. The Cannigistics software platform is designed to enhance the efficiency and effectiveness of indoor agricultural operations, and positions Cannigistics to be the industry leader in agri-software solutions by providing businesses with advanced controls over all aspects of their operations. Additionally, Calyx owns a portfolio of proprietary intellectual property with applications in crop enhancement.
For further information about Calyx, please visit www.calyxbio.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Calyx Bio-Ventures Inc.Roger FordePresident and Chief Executive Officer604.firstname.lastname@example.org
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