Cloud Nine Web3 Technologies Inc. (CNSX:CNI) entered in an agreement to acquire 19.7% stake in Next Decentrum Technologies Inc. for $0.5 million on June 25, 2021. The consideration of $0.5 million will be paid in eight tranches over a period of six months, in exchange for the issuance of an aggregate of 2,673,792 units (each, a “Unit”) of Next Decentrum, at a price of $0.187 per Unit. Each Unit is comprised of: (i) one common share of Next Decentrum (each, a “Common Share”), and (ii) one non-transferable Common Share purchase warrant (each, a “Warrant”), with each Warrant entitling Cloud Nine to acquire one additional Common Share (each, a “Warrant Share”) at a price of $0.2805 per Warrant Share for a period of 24 months from the date of issuance. The final tranche is scheduled to be completed by December 31, 2021. Cloud Nine has the right to increase its ownership in Next Decentrum to up to 28.2% by providing an additional investment of up to $750,000 in connection with the exercise of all 2,673,792 Warrants granted under the SPA. The first and second tranches involved Cloud Nine’s purchase of 534,758 Units of Next Decentrum for a cash payment of $100,000