IntelliStake up 17%, Acquiring NanoAI Technologies in C$17 Million Transaction
IntelliStake (ISTK.CN) said Tuesday that it is acquiring NanoAi Technologies for C$17 million in an all-shares transaction. Its shares jumped 17%.Intellistake will issue 34.1 million shares priced at C$0.50 each, and also provide a $1.3 million bridge loan to NanoAi at an interest rate of 10% per year, a statement said.NanoAi has developed "standoff" detection devices that can identify multiple threats, with applications across defense, healthcare, aerospace, energy, and critical infrastructure."With the proposed acquisition of NanoAi, we intend to apply those capabilities directly to sensor data intelligence, combining our software layer with NanoAi's proven detection hardware to deliver an integrated sensor-to-decision capability," said IntelliStake Chief Executive Jason Dussault."This acquisition is intended to position Intellistake to address a growing requirement for AI-driven sensor intelligence across both commercial and government markets," Dussault added.IntelliStake shares were last seen up C$0.07 at C$0.48 on the Canadian Securities Exchange.Price: $0.48, Change: $+0.07, Percent Change: +17.07%
