North America
Aether Global Innovations Signs Definitive Agreement with Private British Columbia Tech Investment Company
• Aether Global Innovations Corp. (AETH) has entered a securities exchange agreement to acquire 1401068 BC Ltd. (PrivCo) for 19,100,100 common shares of the Company.
• PrivCo is a special purpose vehicle that is securing an earn-in arrangement with Xentera Technologies Inc. (Xentera), an early stage drone development company.
• The Earn-In Arrangement gives PrivCo the right to acquire up to 12.5% of Xentera’s issued and outstanding capital for US$300,000.
• Xentera is developing a large multipurpose cargo jet drone with a 70-foot wingspan, capable of vertical take-off and landing (VTOL), heavy payloads, long-range, and high-speed operations.
• Completion of the Transaction is subject to customary conditions precedent, including approval of the Canadian Securities Exchange, completing an equity offering for net proceeds of no less than $500,000, and PrivCo entering into a definitive agreement with Xentera to formally provide for the Earn-In Arrangement.
• Aether Global Innovations Corp. focuses on three areas for critical infrastructure and large public and private facilities: drone management and surveillance monitoring, automation and integration for flightplanning, new, innovative sensor payloads, stand-alone power source, and drone base station infrastructure and technology for autonomous self-landing, power charging, and take off.
