Jasper Commerce Inc. (TSXV:JPIM) agreed to acquire Cartika Inc for CAD 2.55 million on October 11, 2022. The consideration will include (i) CAD 300,000 in cash from Jasper's existing cash balance (ii) CAD 200,000 in a Vendor Take Back, payable over three years with principal and interest payments; and (iii) CAD 1,050,000 in Jasper common shares at the greater of Jasper's volume weighted average trading price for the ten trading days prior to the closing date, and CAD 0.50 per share; and (iv) up to CAD 1,000,000 over 2 years ("Earn Out" ) conditional upon revenue growth of Cartika payable in Jasper common shares at the greater of Jasper's volume weighted average trading price for the ten trading days prior to the end of the applicable Earn Out period, and CAD 0.50 per share. In addition to statutory hold periods, all shares issued in conjunction with this Transaction will have a 12 month hold on them in addition to applicable statutory hold periods. The transaction is assumed to be closed on December 1, 2022. As of November 28, 2022 the transaction is expected to close the first week of January, 2023.

Jasper Commerce Inc. (TSXV:JPIM) cancelled the acquisition of Cartika Inc on January 12, 2023.