- Sensor Technologies Corp. (SENS) signed securities purchase agreements worth roughly $8.83 million with three companies
- The company has agreed to acquire a total of 27.6 million common shares in the capital of Robotic for $1.38 million, paid with Sensor shares on a 1:1 exchange ratio
- It also agreed to acquire an aggregate of 11,111 BAM common shares for $4.97 million, paid in 99.5 million Sensor common shares
- Lastly, it agreed to acquire 19.8 million 1412 common shares for $2.48 million, paid in 42.08 million Sensor common shares
Oil and gas solutions provider Sensor Technologies Corp. (SENS), signed securities purchase agreements worth roughly $8.83 million.
These agreements are with Robotic StemCell BioTech Ltd., Blockchain Assets Management Group Limited, and 14125339 Canada Inc.
The company has agreed to acquire a total of 27.6 million common shares in the capital of Robotic for $1.38 million, paid with Sensor shares on a 1:1 exchange ratio. This represents approximately 20 per cent of the issued and outstanding securities in the capital of Robotic.
Robotic has the exclusive right to manufacture and distribute fully automatic artificial intelligence stem cell culturing robots called the Cell Robot. It recently acquired two medical clinics in Asia to establish medical tourism in the Asian market to eventually expand to Europe and North America.
Regarding the securities purchase agreement with BAM, Sensor agreed to acquire an aggregate of 11,111 BAM common shares for $4.97 million, paid in 99.5 million Sensor common shares. which is roughly 10 per cent of the issued and outstanding securities of BAM.
BAM is made up of two business units which are Filecoin mining and blockchain technology development.
Lastly, for the deal with 1412, Sensor agreed to acquire 19.8 million 1412 common shares for $2.48 million, paid in 42.08 million Sensor common shares. The purchased 1412 shares represent approximately 20 per cent of its issued and outstanding securities.
1412 is in the process of developing blockchain technology to solve the limitation of the ‘current issues.’
The Robotics, BAM, and 1412 securities purchase agreements are subject to shareholder and regulatory approval for a change of business from an industrial issuer to an investment issuer.
Sensor Technologies Corp. (SENS) is unchanged, trading at $0.01 per share as of 12:44 p.m. EST.