OTTAWA, Sept. 30, 2015 /CNW/ - In-Touch Survey Systems Ltd. ("In-Touch") (TSXV: INX) announces that it expects to acquire Statopex Inc. a customer experience measurement company on October 1, 2015.
The purchase of Statopex is expected to be for a combination of cash and In-Touch shares. The cash purchase price is expected to be $1.6M with $1.3M paid upon closing and $150,000 per year over the next two years based on revenue targets being met each year. The share component is expected to be 600,000 In-Touch common shares at a current price of $0.28.
Certain statements included in this news release contain forward looking statements, including the current acquisition of Statopex, and anticipated increased annual revenue of the Company, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management warns the reader that hypotheses relative to future events which are beyond the control of management could prove to beinaccurate given that they are subject to certain risks and uncertainties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE In-Touch Survey Systems Ltd.
For further information: George Pretli, email@example.com, Chief Financial Officer and Corporate Secretary, 613-270-7916