Quisitive Completes Sale of PayiQ

TORONTO, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft solutions provider and payments solutions provider, completed the previously announced sale of its LedgerPay, Inc. (“PayiQ”) subsidiary to Fulcrum IT Partners (“Fulcrum”), which includes the PayiQ cloud-enabled payment processing platform, operations and team, for aggregate consideration of up to US$45 million comprised of US$27 million of Fulcrum Shares (as defined below) and earn-out payments in cash of up to US$18 million based on PayiQ exceeding revenue growth (the “Transaction”). The details of the Transaction are set forth in a definitive share purchase agreement between the Company, a wholly-owned subsidiary of the Company, and a wholly-owned subsidiary of Fulcrum (“Fulcrum Payments”) dated November 28, 2023, as amended January 26, 2024, which will be available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.