Edmonton, Alberta, July 8, 2025 – Innovotech Inc. (TSX-V: IOT) (“Innovotech”) has received US$402,926 (approximately CA$550,562) following the sale of its 120,000 shares in a privately-held Canadian company effective July 1, 2025 with proceeds received July 7 at close of business. The shares were acquired in February 2021 as the consequence of a CA$150,000 convertible debenture that Innovotech investor Lonsdale Capital Corporation (“Lonsdale”) assigned to Innovotech in exchange for 625,000 common shares in Innovotech at a deemed price of $0.24 each. A further US$33,339 is held back for working capital adjustments and indemnity and a portion of this may be realized over the subsequent 18 months.
“The proceeds provide capital to continue executing on our plans, investing in profitable revenue growth and developing high value technologies. We congratulate the teams involved in the transaction for their milestone achievement and our supporters at Lonsdale for their visionary work in building healthy businesses like ours.” said Craig Milne, Innovotech CEO.
