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The NFT Marketplace, Inc. (OTCPK:NFTM) signed a letter of intent to acquire Strong AI Invest Limited for CAD 6.6 million on December 23, 2024. The consideration consists of 10 million common equity of The NFT Marketplace, Inc. to be issued for common equity of Strong AI Invest Limited. The total purchase consideration is ten million shares of NFTM common stock, which will be conveyed in installments in accordance with milestone achievements, i.e, Milestone 1: The (SPA) is executed, and the essential infrastructure is completed, resulting in the issuance of one million shares, Milestone 2: Two million shares after three months?advanced features for emotional intelligence, Milestone 3: Integration of the crisis response feature?
two million shares after six months, Milestone 4: Optimisation of the user experience? two million shares after nine months, Milestone 5: Three million shares after twelve months?pre-launch and final UX adjustments, Exclusivity and Non-Compete: The LOI contains a five-year non-compete provision and a 60-day exclusivity period. This acquisition is consistent with NFTM’s roll-up acquisition strategy, which is designed to consolidate high-growth companies with strong synergies in fintech, AI, and web3.
The final completion of these milestones is anticipated in Q4 2025, and they include the development of Strong AI’s fundamental features, crisis response capabilities, and user experience enhancements. The existing Strong AI will remain in place post completion of the Sale and Purchase Agreement (SPA).
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