Spindle Inc.on Oct. 23, 2015, completed the acquisitionof specific assets of Catalyst Business Development Inc., according to a Form 10-Kfiled March 30.
The completed acquisition was pursuant to an asset purchase , dated Sept. 14, 2015,by and between Spindle and Catalyst in exchange for 300,000 of Spindle's unregisteredcommon shares issued to the holders of Catalyst stock.
The consideration amounted to $75,000 using a fair value of 25cents per share at the closing date. The assets acquired include a white-labeledlicense of the Merchant Partners solution and various assets related to branding,marketing and sales. Spindle will continue to operate the gateway under the Catalystbrand.