Business
Credissential Announces Sale of Antenna Platform to Codeifai Limited for Approximately Aud$1,300,000
Credissential Announces Sale of Antenna Platform to Codeifai Limited for Approximately
About this update from Credissential Inc.
[{"type":"text","content":"(via TheNewswire)\n \n\nCalgary, Alberta –TheNewswire -July 2, 2025 – Credissential Inc. (“Credissential” or the “Company”) (CSE: WHIP) (OTC: IPTNF) (FSE: 9YZ)is pleased to announce that it has entered into a definitive agreement, dated \nJune 30, 2025, (the “Agreement”) with Codeifai Limited (“Codeifai”), an Australia-based product authentication and consumer engagement solutions provider, for the sale of Credissential’s Antenna Transfer Inc. (to be renamed QuantumAI) (“Antenna”) business (the “Transaction”), including all associated intellectual property, software, platform assets, and trademarks (collectively, the “Business”).\n \n \n\n \n\nUnder the terms of the Agreement, Credissential will receive total consideration of AUD$1.3 million, comprised of AUD$1.15 million in fully paid common shares of Codeifai Limited (the “Consideration Shares”) and AUD$150,000 in cash (the “Cash Consideration”), subject to escrow terms and customary adjustments. The Consideration Shares will be issued based on the lower of: (i) a ten percent (10%) discount to the VWAP over the 30 trading days prior to June 30, 2025; or (ii) a ten percent (10%) discount to the VWAP over the 20 trading days prior to issuance. At the election of Credissential, the Cash Consideration may be satisfied in Codeifai shares at the same price as the Consideration Shares. The Transaction is arms-length and there will be no finder’s fees paid. \n\n \n\nAntenna, operating under the domain Antennatransfer.io, is a proprietary quantum-secured platform designed to enable highly secure payments, file transfers, and end-to-end encrypted communications. The platform uses advanced post-quantum cryptographic techniques and AI-driven security protocols to safeguard data and communications against both classical and quantum-based cyber threats. The sale of the platform aligns with Credissential’s strategic focus on the development of fintech initiatives and maximizing shareholder value. \n\n \n\nThe Transaction is subject to a number of customary closing conditions, including Codeifai shareholder approval for the issuance of shares and the completion of a capital raising of at least AUD$300,000 by Codeifai. Completion is expected to occur within thirty (30) days following Codeifai shareholder approval, unless otherwise agreed by the parties. \n\n \n\n...