PopReach Corporation - CEO, Jon Walsh.
CEO, Jon Walsh.
Source: YouTube.
  • PopReach Corporation (POPR) has acquired the membership interests of Ubiquity Agency LLC through a US$44.3 million definitive transaction agreement
  • Ubiquity is a user acquisition and marketing technology business based in Florida 
  • It includes US$18.7 million in cash, 41 million PopReach common shares, a US$13.75 million convertible debenture, and assuming US$1.25 million of existing liabilities
  • PopReach also amended its existing credit facilities which has increased to US$40 million
  • PopReach Corporation (POPR) is up 7.35 per cent and is trading at $0.36 per share as of 2:10 p.m. ET

Digital media technology company, PopReach Corporation (POPR) has acquired 100 per cent of the membership interests of Ubiquity Agency LLC.

Ubiquity is a user acquisition and marketing technology business based in Florida.

The transaction consists of US$18.7 million in cash, 41 million PopReach common shares, a US$13.75 million convertible debenture and taking on US$1.25 million of Ubiquity’s existing liabilities.

Jon Walsh, CEO of PopReach, commented on the acquisition.

“With deep capabilities in digital user acquisition and traffic distribution that are grounded in technology and data analytics, this acquisition ticks all the boxes in advancing our vision of building a walled garden of products and services to better connect businesses to target audiences.”

If PopReach fails to repay at least US$7.5 million for the debenture within the first four months of closing, then an additional three million common shares will be issued to the vendors.

PopReach has also agreed to grant one million restricted stock units to certain employees of Ubiquity and its subsidiaries.

In other news, PopReach has amended its existing US$33 million senior secured credit facilities with the Bank of Montreal (BMO). The facilities are now comprised of a US$40 million non-revolving term facility and an unamended US$8M million revolving facility, but all other material terms remain unchanged.

PopReach Corporation (POPR) is up 7.35 per cent and is trading at $0.36 per share as of 2:10 p.m. ET.


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