- Marble Financial Incorporated (MRBL) has entered into a binding Letter of Intent (LOI) with eBunch Data and Development Limited and its shareholders
- In accordance with the LOI, Marble will acquire all of the issued and outstanding common shares in the capital of eBunch for $550,000
- The shares will be paid for by issuing $350,000 common shares of Marble, and a minimum of $200,000
- eBunch is a full-service technology company providing
- Marble is an AI-driven financial technology company
- Marble Financial Inc. (MRBL) was down by 5 per cent, trading at $0.095 at 08:59 ET
Marble Financial Incorporated (MRBL) has entered into a binding Letter of Intent (LOI) with eBunch Data and Development Limited and its shareholders.
In accordance with the LOI,Marble will acquire all of the issued and outstanding common shares in the capital of eBunch for $550,000.
The shares will be paid for by Marble as follows: (i) $350,000 through the issuance of that number of common shares of Marble, and (ii) a minimum of $200,000, less adjustments.
The vendors also have a two-year performance-based opportunity to earn $0.10 for every $1.00 in gross income over and above $750,000 in annual incremental revenue growth (AIR) formula.
It is expected that due diligence and execution of the definitive agreement will take place on or about June 30, 2022. Marble and eBunch are at arms-length.
“This acquisition of eBunch by Marble will significantly help dealers who are not equipped for complete online selling – aka digital retailing – but understand that the selling of autos and the auto industry, in general, is changing,” noted Paul Lehal, CEO and owner of eBunch.
“The future roadmap entails empowering existing digital merchandising companies with Marble’s API so that their payment calculators are accurate to the penny and building widgets for dealerships to help them gather finance leads,” he added.
“This acquisition allows Marble to exponentially expand its reach and partnerships, and with access to a broad range of industries, we will be able take on new markets that were previously inaccessible,” said Doug Tanner VP of Business Development for Marble.
eBunch is a full-service technology company providing a wide array of digital products and services. Over recent years, eBunch’s prime focus has been on the automotive sector.
Marble is an AI-driven financial technology company.
Marble Financial Inc. (MRBL) was down by 5 per cent, trading at $0.095 at 08:59 ET.
