Marble Financial Inc. (CNSX:MRBL) entered into a binding Letter of Intent to acquire Inverite Verification Inc. for CAD 4 million on January 18, 2021. Under the terms of the definitive agreement, the company will acquire all of the issued and outstanding shares of Inverite for a purchase price of CAD $1.5 million plus and earn out provision calculation based on a multiple of Annual Incremental Revenue (“AIR) of Inverite over the two consecutive one-year periods following the closing of up to CAD 2.5 million, payable in cash or shares at the option on Marble. The effective price of any Marble shares issued in satisfaction of the payment of any portion of the earn-out amount will be the greater of (i) the volume weighted average price of the Marble shares for the 10 consecutive trading days preceding the last day of the applicable earn-out period, and (ii) closing price of the Marble shares on the last trading day prior to the closing, which was CAD 0.235 per share. As of April 8, 2021, Marble Financial closed a non-brokered private placement of CAD 1.3 million in principal amount of unsecured convertible debentures for gross proceeds of CAD 1.3 million. The net proceeds from the Private Placement will be used to fund the acquisition of Inverite Verification, which the company expects to close in the next few days, and to fund the ongoing development of the Marble Platform as well as for general working capital and other corporate purposes. It is expected that due diligence, and execution of the Definitive Agreement will take place on or before March 31, 2021. As of March 31, 2021, the execution of the Definitive Agreement and closing of the transaction is now scheduled for the week of April 5th, 2021. The acquisition is accretive to Marble. Meretsky Law Firm and Bishop & McKenzie LLP acted as legal advisors to Marble Financial Inc., while Bishop & McKenzie LLP also acted as a legal advisor to Inverite Verification Inc.