Under the asset purchase agreement for the acquisition of the Node40 Business (the «APA»), HashChain has acquired the NODE40 Business for a purchase price comprised of US$ 8,000,000 in cash,
payable as to US$ 4,000,000 at
closing (subject to a
closing adjustment provision), and US$ 2,000,000
on each of 180
days and one year following the
closing date, and a total of 3,144,134 common shares in the capital of HashChain («Shares»), to be issued in the following amounts and
on the following dates (each, an «Issue Date»): (i) 1,800,000 Shares
on the
closing date, (ii) 700,247 Shares
on the date that is 180
days following the
closing date; and (iii) 643,887 Shares
on the one - year anniversary of the
closing date, subject to NODE40s option to receive cash in lieu of up to 30 % of the shares issuable pursuant to (ii) and (iii) above to a maximum of $ 600,000 USD for (ii) and $ 600,000 USD for (iii) above.
i) In respect of renewal premiums received up to 3.00 p.m. by the insurer along with a local cheque or a demand draft
payable at par at the place where the premium is received, the
closing NAV of the
day on which premium is received shall be applicable.
SELECTED ACHIEVEMENTS • Supervised operating and approval processes of Accounts
Payable which led to production of 170 checks daily and wire transfers of over $ 1000k / - • Modernized ERP systems in order to incorporate user - friendliness into the system • Reinforced approval procedures to better tracking and documentation of activities in purchasing, accounts payable and inventory areas • Bring a 20 % reduction on freight costs negotiated while maintaining quality points • Organized processes and dealings to support 40 % reduction in month - end close cycle from 4 -
Payable which led to production of 170 checks daily and wire transfers of over $ 1000k / - • Modernized ERP systems in order to incorporate user - friendliness into the system • Reinforced approval procedures to better tracking and documentation of activities in purchasing, accounts
payable and inventory areas • Bring a 20 % reduction on freight costs negotiated while maintaining quality points • Organized processes and dealings to support 40 % reduction in month - end close cycle from 4 -
payable and inventory areas • Bring a 20 % reduction
on freight costs negotiated while maintaining quality points • Organized processes and dealings to support 40 % reduction in month - end
close cycle from 4 - 5
days