Balesia Technologies, Inc entered into an agreement to acquire 71.5% stake in NuevaTel PCS de Bolivia, S.A. from Trilogy International Partners Inc. (TSX:TRL) for $20 million on March 28, 2022. Upon the terms and subject to the conditions of the agreement, the purchase price shall be $1 plus an irrevocable commitment to make a working capital loan of $20 million to NuevaTel pursuant to the terms an Amended and Restated Loan Agreement, and the proceeds thereof together with the Cash Payment to be funded in an initial tranche of $2 million concurrently with the closing of the transaction in accordance with the terms of the Amended and Restated Loan Agreement. The closing of the Transaction is subject to Bolivian regulatory approval, unless such condition is waived by Balesia, as well as other customary closing conditions. Trilogy International will assess the accounting and reporting impact resulting from entering into the NuevaTel Transaction Agreement in connection with the Company's report for the first quarter of 2022. The transaction is expected to close in the second quarter of 2022. Gregg S. Lerner of Friedman Kaplan Seiler & Adelman LLP acted as legal advisor to Trilogy International Partners. Morgan Stanley acted as financial advisor to Trilogy International Partners.

Balesia Technologies, Inc completed the acquisition of 71.5% stake in NuevaTel PCS de Bolivia, S.A. from Trilogy International Partners Inc. (TSX:TRL) on May 14, 2022.