Sensor Technologies Corp. (CNSX:SENS) entered into a letter of intent to acquire up to 20% stake in Blockchain Assets Management Group Limited for CAD 1 million on November 25, 2021. The final BAM Purchase Price will be determined by the parties upon the completion of Sensor's due diligence.

The BAM Purchase Price may be satisfied either through (i) cash consideration paid on the closing of the acquisition of the BAM Shares (ii) the issuance of common shares in the capital of Sensor at a price per BAM Consideration Share to be determined in the context of the market or (iii) a combination of cash consideration and issuance of BAM Consideration Shares. The transaction is subject to requisite shareholder and regulatory approval, including the approval of the CSE and standard closing conditions, including the completion of due diligence investigations to the satisfaction of each of BAM and Sensor. Prior to completion of the BAM Transaction, Sensor and BAM shall negotiate and enter into a definitive share exchange agreement on commercially reasonable terms and the parties shall have obtain the requisite shareholder approvals for the BAM Transaction.

According to the press release of December 7, 2022, Sensor Technologies has closed a private placement of 10.6? million units ("Units") at a price of $0.05 per Unit for gross proceeds of $0.53 million and intends to use the net proceeds of the Offering for (i) the acquisition of securities in the capital of Blockchain Assets Management Group Limited and (ii) general corporate purposes.