Glenbriar Announces Termination of Agreement to Acquire Eleos Robotics Inc.

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Jan 28, 2020
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VANCOUVER, BC / ACCESSWIRE / January 27, 2020 / Glenbriar Technologies Inc. (CSE:GTI.X) (the "Company") wishes to provide an update to its March 15, 2019 press release announcing an arms length agreement to acquire all of the shares of private BC-based Eleos Robotics Inc. ("Eleos"). The agreement contemplated that the Company will issue 100% of the issued and outstanding shares of the Company, at a deemed value of approximately $4.75 million, to the shareholders of Eleos, but only upon certain development and commercialization milestones being met, which was anticipated to take up to12 months.