- TrustBIX Inc. (TSXV:TBIX) signed an asset purchase agreement with Mindsgate Ltd. to acquire a fully integrated Indoor Farm Management System (IFMS), enhancing its indoor farming technology offerings
- The IFMS platform includes ERP-grade features such as IoT device management, AI-driven plant recognition, CRM, traceability, and resource tracking, tailored for indoor agriculture
- As part of the deal, TrustBIX will issue 6 million units (each with one share and one warrant) to Mindsgate, pending regulatory approvals and subject to a four-month hold period
- TrustBIX stock (TSXV:TBIX) last traded at $0.03
TrustBIX (TSXV:TBIX), a Canadian agricultural technology company, has signed an asset purchase agreement with Mindsgate Ltd. for the acquisition of a cutting-edge Indoor Farm Management System (IFMS). The move marks a major expansion of TrustBIX’s capabilities in the indoor farming sector, aligning with its mission to deliver comprehensive, sustainable agri-tech solutions.
The IFMS platform is a fully integrated, production-ready system designed to streamline and optimize indoor farming operations. It includes modules for farm operations, IoT device management, AI-driven plant recognition, traceability, CRM, operator training, order management, and resource tracking. Together, these features form an ERP-grade solution tailored specifically for indoor agriculture.
Transaction details
According to a news release, the terms of the agreement state that TrustBIX will acquire the IFMS asset in exchange for issuing 6 million units to Mindsgate. Each unit consists of one common share and one warrant, allowing the holder to purchase an additional share at $0.08 within two years of closing. All securities issued will be subject to a statutory hold period of four months and one day, in accordance with Canadian securities regulations.
The transaction remains subject to customary closing conditions, including regulatory approvals and consent from the TSX Venture Exchange. No finder’s fee is expected to be paid in connection with the deal.
Leadership update
In conjunction with the announcement, TrustBIX also reported a change in its executive team. Adam Morand has stepped down from his roles as Chief Technology Officer and member of the Board of Directors, effective immediately. The company expressed gratitude for his contributions during his tenure.
Business outlook
This acquisition builds on TrustBIX’s broader strategy to lead innovation in sustainable food production. Following its 2023 acquisition of Alberta Food Security Inc. and the integration of AgriPlay’s vertical farming technology, TrustBIX has demonstrated a strong commitment to addressing food security and climate resilience through scalable indoor farming solutions.
About TrustBIX
TrustBIX Inc. offers a range of services, including auditing and certification, chain of custody, sustainability reporting, and incentive programs to help the customers enhance their operations and meet the demand in the agri-food industry.
TrustBIX stock (TSXV:TBIX) last traded at $0.03 and has risen 200.00 per cent since the year began.
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