Xtierra Inc. entered into an agreement to acquire an unknown minority stake in Music Royalties Inc. from Tim Gallagher for CAD 0.5 million.

Xtierra Inc. (TSXV:XAG) entered into an agreement to acquire an unknown minority stake in Music Royalties Inc. from Tim Gallagher for CAD 0.5 million on September 30, 2022. Under the terms of the transaction, Xtierra will acquire 2 million common shares of Music Royalties, and as consideration will issue 20 million common shares of Xtierra to Tim Gallagher. The transaction is subject to obtaining exchange, regulatory and other approvals and other customary closing conditions.

The independent directors each of the Xtierra and Music Royalties approved the transaction.