ShelfieTech Closes Acquisition of Aspect Majority Interest

ShelfieTech Ltd. (CSE:SHLF, OTCQB:SHLFF) has completed its previously announced acquisition of a 70% majority interest in Aspect Information Systems Ltd. The transaction involved a US$1,582,140 consideration to Aspect's sole shareholder, consisting of US$1,232,140 in cash and US$350,000 in 269,231 ShelfieTech common shares. These shares are under a statutory hold period until March 5, 2027.

Additionally, ShelfieTech provided Aspect with a US$595,000 convertible loan, with US$170,000 already advanced and the remaining US$425,000 due by January 31, 2027. The loan can convert into Aspect shares or be repaid by 2031.

Aspect specializes in AI-driven business intelligence and data analytics for the retail sector, aligning with Shelfie's focus on innovative retail technology solutions. The deal qualifies as a significant acquisition under Canadian securities regulations.