Business
EdgeTI Announces Closing of Acquisition of Austal Australia's Technology Division
Vancouver, British Columbia--(Newsfile Corp. - January 6, 2026) - Edge Total Intelligence Inc. (...
About this update from Edge Total Intelligence Inc
[{"type":"text","content":"EdgeTI Announces Closing of Acquisition of Austal Australia's Technology DivisionVancouver, British Columbia--(Newsfile Corp. - January 6, 2026) - Edge Total Intelligence Inc. (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5I) (\"edgeTI\" or the \"Company\") is pleased to announce that, further to its press release dated November 4, 2025, it has completed its acquisition (the \"Transaction\") of certain technology assets of Austal Limited (ASX: ASB), a global leader in shipbuilding and defence prime-contracting, (\"Austal\") comprising a 100% interest in each of, a planning software product focused on aviation applications, a branched LUSI solution, an enterprise asset management software suite with a focus on marine applications, and certain other branched minor software products focused on workflow and automation of Austal and intellectual property licenses to support and utilize such assets (together, the \"Acquired Assets\"), pursuant to a framework collaboration agreement entered into between the Company and Austal (the \"FCA\").Pursuant to the FCA and in connection with the Transaction, among other things, the Company issued an aggregate of 6,075,459 subordinate voting shares in the capital of the Company (\"SVS\", and the SVS shares issued to Austal pursuant to the Transaction, the \"Consideration Shares\"), representing 9.9% of the issued and outstanding SVS on a non-diluted basis, at a deemed price per Consideration Share of C$1.00. The Consideration Shares are subject to lock-up in accordance with the terms of a lock-up agreement entered into between the Company and Austal pursuant to which Austal has agreed not to offer, sell, transfer, dispose of or deal with any of the Consideration Shares, subject to carve-outs as set out in the lock-up agreement, until the expiration of the Reversion Term (as defined below).Additionally, pursuant to the FCA, in the event the Company is presented with an opportunity to utilize the Acquired Assets in the global marine and army maritime industry or the global commercial fast ferry industry in certain jurisdictions (comprising Australia, United States, United Kingdom, Philippines, New Zealand, Norway, Sweden, Denmark, Vietnam, Maldives, Sri Lanka, Singapore, Chile, Trinidad & Tobago, Venezuela, Guatemala, Germany, Malta, Cook Islands, Fiji, Nauru, Palau, Samoa, Solomon Islands, Tonga, Tuvalu,...