Array ( [0] => WP_Term Object ( [term_id] => 25854 [name] => Binovi Technologies [slug] => binovi-technologies [term_group] => 0 [term_taxonomy_id] => 25854 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 6 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 254 [name] => Latest News Top [slug] => latest-news-top [term_group] => 0 [term_taxonomy_id] => 254 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1080 [filter] => raw ) )
Connect with us

Press Releases

Binovi to Acquire Computer Aided Vision Therapy

The company has agreed to acquire all of the issued and outstanding share capital of Samurai.

mm

Published

on

(PRESS RELEASE) VANCOUVER, BC — Binovi Technologies Corp. (“Binovi” or the “Company’) (TSX-V:VISN) (OTCQB:BNVIF) (GR:2EYA) a leader in neuro-vision performance technology, announces that it has entered into an arm’s length share purchase agreement (the “Agreement”) with the shareholders of Samurai Motion Tracking Corp. (“Samurai”) whereby the Company has agreed to acquire all of the issued and outstanding share capital of Samurai (the “Acquisition”). Headquartered in Vancouver, British Columbia, Samurai is a software-based vision therapy company providing computer aided vision therapy resources.

“This acquisition demonstrates Binovi’s commitment to continually evolve our technology offering with adoptable resources to our SaaS stack. We are excited to bring the proven technology developed by Samurai to our growing user base of vision professionals, especially as we position ourselves for expansion into the K-12 education sector. Acquiring CAVT brings industry-recognized and relied-upon software to the Binovi Platform.” — Adam Cegielski, Binovi CEO.

About Samurai Computer Aided Vision Therapy

Originally created by Dr. Gary Vogel, Computer Aided Vision Therapy (CAVT) is an extensive software package for developing eye tracking skills, visual thinking & processing skills, and binocular vision skills. The CAVT suite consists of four primary modules: Track & Read, Visual Information Processing Skills (VIPS), Visual Thinking, and Computer Vergences. These modules include activities and exercises to be completed by patients using a computer, originally in an optometrist/vision therapy office setting, and later at home with data being reported manually to the patient’s care team.

Terms of the Acquisition

In consideration for the Acquisition of all the issued and outstanding share capital of Samurai, the Company has agreed to pay an aggregate consideration of CDN$2,516,000.00 (the “Purchase Price”) payable by the issuance of 31,450,000 common shares of the company (the “Consideration Shares”) at a deemed price of CDN$0.08 per Consideration Share to the underlying shareholders of Samurai.

Advertisement

The Acquisition is subject to TSX Venture Exchange approval and the Company anticipates that the Acquisition will constitute an “Expedited Acquisition” under the policies of the TSX Venture Exchange. The Company may pay a finder’s fee in connection with the Acquisition and no new directors or officers will be added to the Company management team in connection with the Acquisition.

SPONSORED VIDEO

SPONSORED BY ESSILOR

Introducing Crizal® Rock™

Did you know three out of four people wipe their lenses on their clothes?* Or that one out of three people accidentally drop their glasses at least once a week?* It's no surprise, then, that 93 percent of wearers consider scratch-resistance an important characteristic when choosing lenses.* To prove the durability of new Crizal Rock lenses, we ran tests inspired by real life situations. To learn more about new Crizal Rock, the most scratch-resistant Crizal No-Glare lenses ever made, visit EssilorPRO.com/Crizal-Rock. *Study conducted by ⒸIpsos - Risky behaviors of eyeglass wearers - consumer quantitative research 2019 - declarative results - USA - n= 2345 eyeglass wearers

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Facebook

Most Popular