QYOU Media Inc. (TSXV:QYOU) executed a binding term sheet to acquire a majority stake in Maxamtech Digital Ventures Pvt. Ltd. on October 20, 2022. The closing of the acquisition is subject to closing conditions customary for transactions of this nature and the company expects to have finalized the initial purchase before the end of 2022.

QYOU Media Inc. (TSXV:QYOU) completed the acquisition of 51% stake in Maxamtech Digital Ventures Pvt. Ltd. on January 12, 2023. The parties have agreed on terms for purchase of the remaining 49% based upon a multiple of EBITDA over the calendar years 2023, 2024 and 2025. On January 9, 2023, the Company issued 3,750,000 stock options at an exercise price of CAD 0.125 and expiring January 9, 2028 and 1,875,000 restricted share units under standard vesting terms as additional compensation to certain company executives and board members for services provided in 2022.