Graph Blockchain Acquires Babbage Mining Corp.
January 26, 2021
Graph Blockchain Inc. entered into a definitive share exchange agreement to acquire all issued and outstanding securities of Babbage Mining Corp. for an aggregate deemed purchase price of $4.8 million, satisfied by issuing 60 million units of Graph. The acquisition is expected to close on or before February 1, 2021 and is subject to customary closing conditions; Graph also announced a concurrent non-brokered private placement to raise up to $2.0 million.
- Buyers
- Graph Blockchain Inc.
- Targets
- Babbage Mining Corp.
- Sellers
- Shareholders of Babbage Mining Corp.
- Industry
- IT Services
- Location
- Canada
- Transaction Type
- Buyout
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