i-Global Holdings Limited (NSX:IGH) signed a non-binding term sheet to acquire Ferlab Sdn. Bhd. for MYR 0.6125 on October 14, 2022.

The transaction is subject to shareholder approvals and NSX approvals. The transaction is expected to close on February 2023. The transaction is subject to due diligence on Ferlab.

i-Global Holdings has completed the pre-Transaction capital raising of AUD 0.3 million via the issue of convertible notes to a professional and sophisticated investors. The transaction is expected to close in May 2023. As of March 31, 2023, due diligence was completed on Ferlab Sdn.

Bhd. The deal is expected to close in June 2023.