Flex Labs Inc (OFEX:FLEX) acquired the remaining 95% stake in IO+ PTE Ltd from Pioneer Media Holdings Inc. (NEOE:JPEG), Phoenix Digital Assets Plc (OFEX:PNIX), Supernova Digital Assets Plc (OFEX:SOL) and others on May 23, 2024. Under the consideration, Flex Labs will issue 110,000,000 new common shares. Furthermore, 50% of Consideration Shares will be subject to a lock-in agreement for six months from completion and 50% of the Consideration Shares will be subject to a lock-in agreement for three months from completion. Flex Labs holds 7,500,000 fully paid ordinary shares in the capital of IO+, which constitute 5% of the issued share capital of IO+ and, as a result of the acquisition, it now holds 100% of IO+'s share capital. Flex Labs will issue 11,578,947 shares to Pioneer Media Holdings for 15,000,000 shares in IO+, 771,930 shares to Supernova Digital Assets for 1,000,000 shares in IO+, and 17,368,421shares to Phoenix Digital Assets for 22,500,000 shares in IO+. Brian Stockbridge of First Sentinel acted as financial advisor to Flex Labs and Phoenix Digital Assets.

Flex Labs Inc (OFEX:FLEX) completed the acquisition of the remaining 95% stake in IO+ PTE Ltd from Pioneer Media Holdings Inc. (NEOE:JPEG), Phoenix Digital Assets Plc (OFEX:PNIX), Supernova Digital Assets Plc (OFEX:SOL) and others on May 23, 2024.