Weconnect Tech International Inc. (OTCPK:WECT) entered into an asset purchase agreement to acquire Cascade Moto Eugene, LLC and Cascade Moto Portland, LLC from Vance Harrison for $3.7 million on March 1, 2022. The total purchase price was $4,196,841. This purchase price was paid from cash on hand in the amount of $676,887, together with flooring lines and unsecured working capital lines of credit obtained by the Company from BMW Financial Services and other institutional lenders in the amount of $3,019,954. The Company also issued 250,000 shares of its common voting shares, valued at $2 per share to complete this transaction. The dealerships acquired by the company are BMW Motorcycles of Portland, BMW Motorcycles of Eugene and Triumph Portland. The deal is expected to close on or before March 28, 2022.

Weconnect Tech International Inc. (OTCPK:WECT) completed the acquisition of Cascade Moto Eugene, LLC and Cascade Moto Portland, LLC from Vance Harrison on March 29, 2022.