EDMONTON, AB – December 1, 2025 (CNW) – Dr. Phone Fix Canada Corporation (TSXV: DPF.V) (“Dr. Phone Fix” or the “Company”) is pleased to announce that it completed, on November 30, 2025, the previously disclosed acquisition of substantially all of the business assets of Geebo Device Repair Inc. (“Geebo”), a leading mobile device repair chain operating six retail service locations across Nova Scotia.
“This acquisition marks a significant milestone for Dr. Phone Fix and represents a key step in our national growth strategy,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix. “With this transaction, we are officially expanding into Atlantic Canada through an established regional platform, a loyal customer base, and an experienced team that will support our continued coast-to-coast expansion.”
Pursuant to the asset purchase agreement governing the transaction (the “Purchase Agreement”), Dr. Phone Fix acquired substantially all of Geebo’s operating assets, including six active retail locations and one operating facility, as well as lease agreements that provide flexibility for future expansion. The total purchase price consists of base consideration of $1.35 million, subject to customary closing adjustments, plus an amount equal to the value of Geebo’s saleable inventory at closing.
The purchase price was satisfied through a combination of $600,000 in cash, a vendor take-back promissory note (the “VTB Note”) in the principal amount of $250,000, and common shares of the Company issued to Geebo (the “Consideration Shares”).
In accordance with the Purchase Agreement, the Company issued an aggregate of 4,371,256 Consideration Shares, comprised of:
(i) 2,994,011 Consideration Shares with an aggregate value of $500,000; and
(ii) 1,377,245 Consideration Shares with an aggregate value equal to the closing value of the acquired saleable inventory.
The number of Consideration Shares issued was determined based on the 21-day volume-weighted average trading price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) as of the last trading day prior to execution of the Purchase Agreement, calculated at $0.167 per share. All Consideration Shares have been placed in escrow and will be released in accordance with a customary escrow agreement. In addition, the shares are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
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