Goat Industries Announces Non-Binding Letter of Intent to Acquire Salesbuddi
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Vancouver, British Columbia, Canada – TheNewswire - November 14, 2024 – GOAT Industries Ltd. (“Company” or “GOAT”) (CSE: GOAT) (OTC: BGTTF) (FWB: 26B.F) is pleased to announce that it has entered into a non-binding letter of intent dated November 13, 2024, to acquire (the “Acquisition”) from Hunter Sales Co. Pty Ltd. (the “Vendor”), all of the assets, brands, intellectual property and other goodwill associated with the brand “Salesbuddi” which is wholly owned and developed by the Vendor (the “Assets”).
The Acquisition will form the basis of the Company’s new technology division, focused on investing in companies in the subscription as a service, sales management and lead generation verticals. Adding Salesbuddi to the Company’s product portfolio represents a step in the Company’s mission to expose shareholders and potential investors to world-class technology.
Salesbuddi is an exciting and unique product that utilizes AI to help coach and train sales people in real time for better sales results, as well as simultaneously creating a “platform of legends” which is developed to create a world class sales culture for organizations as well as a platform that allows easy access to proven sales training and methodologies as well as real time support on how to close more customers on both follow up sales as well as on the spot closing sales using its own actual playbook of sales that is unique to Salesbuddi. Salesbuddi has proven to be successful with over 1000 sales people over the last 10 years, this is your one stop shop sales brain that will increase the results of entry, mid and high level closers of all industries. More details relating to Salesbuddi can be found at their website www.salesbuddi.com.
The Acquisition will form the basis of the Company’s new technology focused division, which the Company views as sector with high potential for growth.
Transaction Terms
Pursuant to the terms and conditions of a binding letter of intent dated November 13, 2024 between the Vendor and the Company, the Company will acquire the Assets from the Vendor, in exchange for 10,000,000 common shares in the capital of the Company (each, a “Company Share”), issuable to the Vendor on the close of the Acquisition at a deemed price of $0.15 per Company Share. The Company Shares issuable to the Vendor will be subject to a mandatory escrow, such that 1/24 of the Company Shares received by the Vendor will be released on a monthly basis, for a period of 24 months. All Company Shares issuable to the Vendor in connection with the Acquisition will be subject to a four month and one day hold period from the date of issue pursuant to National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”). The Acquisition and terms thereto were settled pursuant to arm’s length negotiations.
The Acquisition is subject to receipt of all necessary regulatory approvals, including, as applicable, all required filings with the CSE, completion of due diligence reasonable or customary in a transaction of a similar nature, and entering into a definitive agreement. The Acquisition will not constitute a fundamental change, within the meaning of the policies of the CSE, however, as the Acquisition will result in the Company issuing more than 100% of the current issued and outstanding Company Shares, securityholder approval will be required pursuant to Canadian Securities Exchange (“CSE”) Policy 4. It is anticipated that the Acquisition, if closed, will trigger a business acquisition report.
Private Placement
The Company is also pleased to announce its intention to complete a non-brokered private placement offering of units (each, a “Unit”) for a total target amount of up to $3,000,000 (the “Offering”). The Offering will consist of up to 20,000,000 Units priced at $0.15 per Unit. Each Unit will be comprised of one Company Share and one common share purchase warrant (each, a “Warrant”), with each Warrant exercisable for a period of 2 years at a price of C$0.25 per Warrant. As the Offering may result in the Company issuing more than 100% of the current issued and outstanding Company Shares, securityholder approval will be required pursuant to CSE Policy 4.
The proceeds from the Offering will be used to fund the Company’s new technology division, to expand and develop the Salesbuddi product suite and for general corporate and administrative purposes. All securities issued pursuant to the Private Placement are subject to a four month and one day hold period from the date of issue pursuant to NI 45-106. Finder’s fees may be paid to eligible persons in connection with the Offering.
GOAT is an investment issuer focused on investing in high-potential companies operating across a variety of industries and sectors. The paramount goal of the Company is to generate maximum returns from its investments.
For more information about the Company, please visit https://www.goatindustries.co/. The Company’s final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR+ at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive OfficerMichael Leahy
Head OfficeSuite 2300, 550 Burrard Street, Vancouver, BC V6C 2B5 Telephone 1-204-801-3613
Websitewww.goatindustries.co
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including in relation to the Company’s intention to obtain security holder approval for and implement the Revised Investment Policy. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including the Acquisition, Salesbuddi achieving expected results, the shareholders of the Company approving the Acquisition, the Offering and the shareholders of the Company approving the Offering. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the Company may terminate and not proceed with the implementation of the Revised Investment Policy, or that the Revised Investment Policy will not be successfully implemented for any reason (including failure to obtain the Shareholder Approval or acceptance from the CSE). The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.