EDMONTON, AB, Oct. 22, 2025 /CNW/ – Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that it has entered into a definitive asset purchase agreement (the “Definitive Agreement”) to acquire substantially all of the business assets of Geebo Device Repair Inc. (“Geebo”), a well-established mobile device repair chain with multiple retail service locations across Nova Scotia.
“This transaction represents a significant step in Dr. Phone Fix’s national growth strategy and marks our strategic entry into Atlantic Canada,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix. “It strengthens our position as a Canadian leader in consumer electronics repair and resale, while advancing our mission to make professional device care accessible coast to coast.”
Under the terms of the Definitive Agreement, Dr. Phone Fix will acquire substantially all of Geebo’s business assets (the “Transaction”), including six operating retail stores and related leases that provide options for future expansion. The base purchase price of $1,350,000 is subject to customary adjustments and will include an additional amount equal to the value of saleable inventory at closing.
The purchase price will be satisfied through a combination of:
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$600,000 in cash,
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a vendor take-back promissory note in the principal amount of $250,000, and
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common shares of Dr. Phone Fix (the “Consideration Shares”) issued to the seller.
Specifically, the Company will issue:
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Consideration Shares having an aggregate value of $500,000, and
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Additional Consideration Shares equal to the closing value of purchased saleable inventory net of the cash attributed to such inventory.
The number of Consideration Shares to be issued will be calculated using the greater of:
(a) the 21-day volume-weighted average trading price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”) as of the last trading day prior to the execution of the Definitive Agreement, and
(b) the minimum price permitted under TSXV policies.
All Consideration Shares will be held in escrow and released in accordance with a customary escrow agreement.
Strategic Expansion and Growth Outlook
“This acquisition is a milestone in our ongoing expansion and solidifies Dr. Phone Fix’s position as a coast-to-coast service provider,” added Mr. Sawhney. “Establishing a strong East Coast platform extends our geographic reach, creates operational synergies, and connects us to a loyal regional customer base. It also enhances our OEM-certified repair capabilities, strengthens insurance-partner relationships, and supports our commitment to sustainable device-care practices.”
“With this transaction, we are laying the groundwork for scalable national growth,” Sawhney continued. “We are on track to expand from approximately 35 corporate locations to more than 70 stores nationwide within the next 12 to 18 months.”
Following completion of the Transaction, Geebo’s existing management and team are expected to remain in place to ensure operational continuity and preserve the high level of customer service the brand is known for.
Commitment to National Expansion
Dr. Phone Fix continues to focus on expanding its network of corporate-owned stores across major Canadian provinces while pursuing additional strategic acquisitions and partnerships. These initiatives align with the Company’s long-term vision of becoming Canada’s leading coast-to-coast device-care and circular-economy brand, known for sustainability, customer trust, and technological excellence.
Transaction Details
The Transaction is considered an arm’s-length transaction and remains subject to customary closing conditions, including TSXV approval. There is no assurance that the Transaction will be completed as proposed, or at all.
A copy of the Definitive Agreement will be filed under the Company’s profile on SEDAR+ (www.sedarplus.ca)
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