Business
Credissential Announces Definitive Agreement To Acquire Coincmply
Credissential Announces Definitive Agreement To Acquire
About this update from Credissential Inc.
[{"type":"text","content":"(via TheNewswire)\n \n\n \n\nCalgary, Alberta / May 5, 2025 –TheNewswire -Credissential Inc. (“Credissential” or the “Company”) (CSE: WHIP) (OTC: IPTNF) (FSE: 9YZ),an integrated financial technology company, is pleased to announce that further to its press release dated February 21, 2025, it has entered into a definitive agreement dated May 5, 2025 (the “Agreement”) with 1000927675 Ontario Inc., doing business as CoinCmply (“CoinCmply”), and all of its shareholders (collectively, the “Vendors”).\n \n \n\n \n\nCoinCmply is a platform designed to assist cryptocurrency users in managing and simplifying their tax obligations. It offers tools and services that help users track their crypto transactions, calculate gains and losses, and generate necessary tax reports. By integrating with various exchanges and wallets, CoinCmply aims to provide a comprehensive solution for individuals navigating the complexities of cryptocurrency taxation. The platform offers features such as smart tax analysis, real-time portfolio tracking, personalized tax strategies, and multi-chain support, all aimed at ensuring compliance and maximizing deductions in the evolving crypto landscape. \n\n \n\nPursuant to the terms of the Agreement, the Company will issue an aggregate of 20,000,000 common shares in the Company (the “Consideration Shares”) at a deemed price of $0.05 per Consideration Share (for an aggregate transaction value of CAD$1,000,000) to the Vendors, pro rata, to their respective shareholdings in CoinCmply (the “Transaction”). Completion of the Transaction is subject to customary closing conditions, including any required regulatory approvals. Upon closing, CoinCmply will become a wholly owned subsidiary of Credissential. The Transaction is arm’s length and no finder’s fees are payable. The Agreement contains a debt forgiveness clause whereby CoinCmply will ensure that all accounts payable and accrued liabilities of CoinCmply will be forgiven, repaid or otherwise extinguished in connection with the closing of the Transaction (the “Debt Extingishment”). The Company will not be assuming any long-term debt. The Transaction is not subject to approval of the Shareholders of the Company. \n\n \n\nThis acquisition is expected to enhance Credissential's capabilities in providing AI-driven financial solutions, particularly in dig...