XR Immersive Tech Inc. — M&A Activity 2025

Mar 7, 2025

1

XR Immersive Tech Clarifies Proposed Acquisition of Continuous Glucose Monitoring (CGM) Technology from InsulinQ

Vancouver, British Columbia – March 7, 2025 (STOCKWATCH) – XR Immersive Tech Inc. (“Immersive Tech” or the “Company”) (CSE: VRAI) (FSE:79W) (OTCQB: FNTTF) announces that, following a review by the British Columbia Securities Commission, we are issuing this news release to clarify disclosures made in its January 14, 2025 news release regarding the proposed acquisition of Continuous Glucose Monitoring (CGM) Technology (the “CGM Technology”) from InsulinQ (the “Acquisition”). The Company has entered into an Asset Purchase Agreement (the “Agreement”) dated December 15, 2024, to acquire the CGM Technology from InsulinQ.

Terms of the Acquisition

Under the terms of the Agreement, the Company will issue 4,000,000 common shares of at a deemed price of $0.75 per share for a total purchase price of $3,000,000.

Additionally, the Company will pay finder’s fees consisting of 400,000 common shares at a deemed price of $0.75 per share pursuant to a finder’s fee agreement dated December 15, 2024.

The Acquisition does not constitute a “related party transaction” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.

The shares to be issued pursuant to the Acquisition including finder’s fees will be subject to a four-month and one day hold period in accordance with applicable Canadian securities laws.

Completion of the acquisition remains subject to regulatory approvals and customary closing conditions. The Company will provide further updates as the transaction progresses.

On behalf of the Board of Directors
Sheri Rempel, Chief Executive Officer
XR Immersive Tech Inc.
https://www.immersivetech.co/
For further information about Immersive Tech, please contact:
Contact: Alex Tzillios
Tel: +1-818-877-6548

ABOUT XR IMMERSIVE TECH INC.

XR Immersive Technologies (CSE: VRAI) (FSE: 79W) (OTCQB: FNTTF) operates at the intersection of artificial intelligence (AI), data analytics, immersive experiences, and digital health solutions. While continuing its work in virtual reality (VR) and augmented reality (AR), it is also expanding its focus on healthcare technology, applying its capabilities to develop next patient monitoring and wellness solutions.

---

2

FORWARD-LOOKING INFORMATION

This news release contains forward-looking information within the meaning of applicable securities laws ("Forward-Looking Information"), including statements relating to the Acquisition, the ability to complete the Acquisition contemplated by the Agreement and the timing thereof, including the parties' ability to satisfy the conditions to the consummation of the transaction, the receipt of the required regulatory approvals and other customary closing conditions, the possibility of any termination of the Agreement in accordance with its terms, and the expected benefits to the Company and its shareholders of the transaction, and other statements that are not historical facts. Forward-Looking Information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "estimates", "scheduled" or "forecasts", or other comparable terms that state that certain events will or will not occur. It represents the projections and expectations of the Company relating to future events or results as of the date of this news release.

Risks and uncertainties related to the transactions contemplated by the Agreement include, but are not limited to: the possibility that the Acquisition will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory approvals and other conditions to the closing of the transaction or for other reasons; the negative impact that the failure to complete the transaction for any reason could have on the price of the Company's securities or on its business; Immersive Tech's failure to pay the consideration at closing of the Acquisition; the failure to realize the expected benefits of the transaction; the risk of regulatory changes that may materially impact the business or the operations of the Company; and other risks and uncertainties affecting the Company.

Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in Forward-Looking Information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such Forward-Looking Information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on Forward-Looking Information, which speaks only as of the date made. The Forward-Looking Information contained in this press release represents the Company's expectations as of the date of this news release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any Forward-Looking Information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All of the Forward-Looking Information contained in this news release is expressly qualified by the foregoing cautionary statements.