Mobi724 Global Solutions Inc. (TSXV:MOS) entered into an agreement to acquire Avenida Compras SA from Avenida Inc. for $10 million on March 2, 2022. The purchase price payable by Mobi724 for Avenida will consist of an upfront payment of $4.0 million, of which $3.5 million will be paid in cash and $0.5 million will be paid through the issuance of shares, as well as potential additional payments of up to a further $6.0 million, payable in cash and shares, based on Avenida's financial performance during the period ending December 31, 2023. The maximum Earn-out Payment of $6.0 million would be comprised of $5,350,000 in cash and $650,000 in shares. For the period ended June 30, 2021, Avenida reported revenues of $1.97 million (CAD 2.5 million), Net income of $-1.34 million (CAD -1.7 million), Total Assets of $2.37 million (CAD 3 million), and EBITDA of $0.63 million (CAD 0.8 million). Transaction is subject to regulatory approval by the TSX-V, the Company securing the necessary financing, the execution of definitive documentation as well as certain conditions and closing adjustments which are customary for transactions of this nature. The Transaction is expected to close on or about May 15, 2022. The closing of the transaction is extended to June 30, 2022. As of July 5, 2022, Given the existence of certain adverse conditions in the capital markets, the parties were not able to close the transaction prior to the aforementioned date.

Mobi724 Global Solutions Inc. (TSXV:MOS) cancelled the acquisition of Avenida Compras SA from Avenida Inc on November 24, 2022. As the Mobi724 Global Solutions Inc. (TSXV:MOS) stated that the The acquisition of Avenida will not be completed as market conditions are not favorable to such a completion it even though the benefits of such a transaction remain valid.