On Tuesday, augmented reality (AR) developer
NexTech AR Solutions Corp. (C.NTAR, OTCQB:NEXCF,
Forum) announced that it has signed a letter of intent to acquire an eCommerce business for $2 million paid for with 50% stock and 50% in cash. The eCommerce business generated $1.6 million (USD) in revenue and $600,000 in EBITDA in 2018.
For more on this LOI, click
here.
NexTech has already closed three acquisitions this year, the latest with
Infinite Pet Lifein April, for $1.85 million. That company generated $2.2 million USD in revenue and $600,000 in EBITDA in 2018.
FULL DISCLOSURE: NexTech AR Solutions Corp. is a client of Stockhouse Publishing.