ZoomerMedia Limited entered into a share purchase agreement Buzz Connected Media Inc. for CAD 16.4 million on September 12, 2022. The aggregate purchase price of CAD 16.4M is comprised of CAD 6 million in cash, a CAD 5 million promissory note, issuance of CAD 3 million in ZoomerMedia preference shares at the deemed price of CAD 0.15 per share and assumption of Buzz's CAD 2.4 million outstanding debt obligation. The cash payment for this acquisition will be funded fully via ZoomerMedia's cash on hand, with no external financing. Buzz records internally-prepared unaudited results for the year ended June 30, 2022 which includes approximately CAD 2.5M in total assets, CAD 1M in total liabilities, CAD 7.5M in total revenues, CAD 7.3M in total expenses, resulting in approximate earnings before interest, taxes, depreciation
and amortization of CAD 625K. The transaction is closed in trust, pending only the approval of the TSX Venture Exchange.

ZoomerMedia Limited (TSXV:ZUM) completed the acquisition of Buzz Connected Media Inc on September 12, 2022.