ALDD Ventures Moves Forward with Acquisition of Sparling Financial

ALDD Ventures Corp. has entered a binding letter of intent to acquire Sparling Financial SARL through a share exchange, making Sparling a wholly-owned subsidiary. This acquisition is set to be ALDD's qualifying transaction under TSX Venture Exchange policies, classifying it as a Tier 2 Technology issuer upon completion, subject to requisite approvals.

Sparling Financial, based in Luxembourg, operates as a digital asset brokerage offering trading and custody solutions. Its projected revenue for 2024 stands at CAD$1,630,566, marking noticeable growth from the previous year. Sparling aims to reduce banking fees post-acquisition by developing proprietary banking infrastructure.

The acquisition involves a $9.3 million purchase price, paid through the issuance of 29 million common shares. Prior to closing, ALDD plans a share consolidation and a concurrent financing to support the new venture's working capital.

The acquisition's success depends on several conditions, including regulatory approvals. Trading of ALDD shares remains halted pending satisfactory documentation completion.