I Synergy Group Limited (ASX:IS3) entered into a share purchase agreement to acquire POSTech International Pty Ltd on January 27, 2022. The total consideration payable by the Company to the shareholders of POSTech for the Proposed Acquisition comprises: The issue of 55,000,000 fully paid ordinary shares (Consideration Shares) in the Company to the shareholders of POSTech at a deemed issue price of AUD 0.036 per Share; and The issue of 55,000,000 unlisted options (Consideration Options) in the Company to the shareholders of POSTech. The exercise price of the Consideration Options is AUD 0.05 with an expiry date two years from the date of issue.

Mr Kevin Coutinho will be appointed as Executive Director and Chief Technical Officer of I Synergy. Settlement of the Proposed Acquisition (Settlement) will be subject to various conditions including (inter alia) I Synergy obtaining any necessary shareholder approvals required for the Proposed Acquisition, no material adverse effects on POSTech, satisfactory due diligence by the Company, release of any encumbrances, the signing of an employment agreement between the Company and Mr Kevin Coutinho (the Founder and CEO of POSTech), the finalization of a development agreement between POSTech and a company controlled by Mr Kevin Coutinho, and completion of the placement mentioned below. Ventnor Capital Pty Ltd. acted as financial advisor to I Synergy Group Limited.