OliveX Holdings Limited (NSX:OLX) entered into a binding letter agreement to acquire Assets of Anorton Holdings Limited for £0.191 million on December 2, 2020. Assets of Anorton Holdings Limited also includes trademarks, websites, brand and marketing collateral and other intellectual property. Trading name of Assets of Anorton Holdings Limited is Volution. The acquisition is subject to the signing of a business sale agreement which is expected to occur during the next week. Upon the Formal Agreement being signed. Certain contracts may be assigned / novated to OliveX after completion. Subject to obtaining third party consents, OliveX will acquire Volution’s existing contracts with Anytime Fitness Philippines and Fitness World. OliveX will ensure payment of any unpaid salaries to the existing staff for up to 2 months of their salaries. OliveX will employee existing staff on materially similar terms to their existing contracts. It is intended that the approximately 10 staff members currently working with Volution will transition to OliveX.