Xcyte Digital Corp. (TSE:XCYT) has released an update.
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Xcyte Digital Corp. has announced the acquisition of the assets of Webinar.net, a move that is expected to enhance Xcyte’s offerings in the virtual and immersive event sector. The deal, which includes technology assets and revenue streams, was financed through a combination of shares, warrants, contingent value rights, and debt assumption. Xcyte’s recent financial performance shows a pro forma annual revenue of $2.2 million with an EBITDA loss, which they aim to improve with this strategic acquisition.
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