on Spetz Inc. (NASDAQ:DBKSF)
Spetz Inc. Sells Legacy App Business to Focus on Blockchain Strategy
Spetz Inc., a company listed on the Canadian Securities Exchange, has announced the divestiture of its Spetz app platform. The transaction involves transferring all related liabilities and subsidiaries, including Spetz Tech Ltd. in Israel, to Mr. Josepf Nevo. This sale marks a strategic pivot as Spetz aims to concentrate on its blockchain subsidiary, SonicStrategy Inc.
Through this move, Spetz clears its balance sheet of legacy liabilities and plans to intensify efforts in expanding its Sonic blockchain ecosystem. CEO Mitchell Demeter emphasized that the divestiture allows the company to focus exclusively on growing SonicStrategy's role in blockchain infrastructure and innovation.
The transaction, priced at CDN$1.00, is considered a related party transaction due to Mr. Nevo’s role in the legacy entities, but complies with applicable regulations. This decision reflects a calculated shift in Spetz's strategic direction.
R. P.
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