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Highlights
• CAD8 million cash payment and 20 million common shares offered for asset acquisition
• Assets include employees, customers, and IP of Call Center Guys Inc.
• Closing subject to debt financing and other conditions

Syntheia Corp. (CSE: SYAI) has entered into a definitive agreement to acquire specific assets from Call Center Guys Inc., including employees, customer accounts, and intellectual property. The company, based in Toronto, develops artificial intelligence systems focused on automating inbound telephone call handling through proprietary conversational AI algorithms designed to replicate human-like dialogue and reduce customer service costs.

As consideration for the acquisition, Syntheia will issue 20 million common shares and make a CAD8 million cash payment, which will be financed through debt. From that amount, the company will deduct the Canadian dollar equivalent of USD 1.485 million, payable to a third party under a separate asset acquisition agreement.

All common shares issued under the agreement will carry a four-month and one day hold period. No finder’s fees are payable in connection with the transaction. The closing is subject to the completion of the related debt financing and other customary conditions.

The company stated that once finalized, the acquired business is projected to contribute over CAD10 million in revenue and CAD2.2 million in EBITDA on an annual basis.