Monex Group, Inc. (TSE:8698) entered into an agreement to acquire unknown majority stake in 3iQ Digital Holdings Inc. for CAD 52.5 million on December 28, 2023. As reported, Monex Group will acquire 6,630,000 shares in in 3iQ Digital Holdings. For the fiscal year ended June 30, 2023, 3iQ Digital Holdings Inc. reported Net worth of CAD 6.2 million, total assets of CAD 8.4 million, sales of CAD 9.7 million, operating loss of CAD 5.2 million and net loss of CAD 4.7 million.

The share acquisition is subject to pre-closing conditions, including governmental approval. The acquisition was resolved by the Board of Directors of Monex Group, Inc. The impact of the acquisition on the consolidated financial results of Monex Group for the fiscal year ending March 31, 2024 is expected to be minimal. TD Cowen acted as financial advisor and Osler, Hoskin & Harcourt LLP as legal advisor for Monex Group.

Cinaport Capital Inc. acted as financial advisor and Wildeboer Dellelce LLP as legal advisor for sellers.