Lite Access Completes Acquisition of Ironman

About this update from Ironman International Ltd.

[{"type":"text","content":"Lite Access Completes Acquisition of Ironman\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n September 29,\n \n\n\n 2025\n–\n \n\n\n\n TheNewswire\n-\n \n\n\n Vancouver, British Columbia.\n \n\n LITE ACCESS TECHNOLOGIES\nINC.\n \n\n (“\n \n\n Lite Access\n \n\n ” or the “\n \n\n Company\n \n\n ”)\n(\n \n\n TSX VENTURE: LTE\n \n\n ) (\n \n\n OTC:\n \n\n LTCCF\n \n\n ) is pleased to\nannounce that it has completed its acquisition of 1097195 B.C. Ltd.\n(“\n \n\n Ironman\n \n\n ”) and Ironman Directional Drilling US Inc.\n(“\n \n\n US Holdco\n \n\n ”, Ironman and US Holdco collectively, the “\n \n\n Ironman Parties\n \n\n ”)\npursuant to a definitive share exchange agreement dated December 7,\n2024, as amended (“\n \n\n Share\nExchange Agreement\n \n\n ”), which was previously\nannounced in the news release dated December 30, 2024 (the\n“\n \n\n Acquisition\n \n\n ”).  Concurrent with closing of the Acquisition, the\nCompany changed its name to “\n \n\n Ironman International Ltd.\n \n\n ” and the common\nshares of the Company will commence trading on the TSX Venture\nExchange under the symbol “IMI” on October 1, 2025.\n \n\n\n\n Terms of the Transaction\n \n\n\n\n Pursuant to the Share Exchange Agreement, the Company\npurchased all of the issued and outstanding shares of the Ironman\nParties from the Ironman Shareholders in consideration for:\n \n\n\n\n i)\n \n\n the issuance of an aggregate\nof 85,392,538 common shares in the capital of the Company (the\n“\n \n\n Consideration\nShares\n \n\n ”) to the Ironman Shareholders, which\nare subject to a lock-up agreement as set forth below; and\n \n\n\n\n ii)\n \n\n the payment of an aggregate\nof $6,000,000 in cash (the “\n \n\n Cash Consideration\n \n\n ”) to the Ironman\nShareholders, which will be payable in equal installments of\n$1,200,000 commencing 12 months from the closing date and continuing\nevery 12 months thereafter over a period of 60 months; and\n \n\n\n\n iii)\n \n\n the working capital\nadjustment payment of approximately $14,000,000 (the “\n \n\n Working Capital Adjustment\nPayment\n \n\n ”), which will also be payable in equal\ninstallments commencing 12 months from the closing date an...

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