1300SMILES Limited (ASX:ONT) entered into an agreement to acquire Gatton and Laidley Practices from Totally Smiles Pty Ltd on December 10, 2019. The consideration is payable in cash at completion. It will be funded from a combination of cash reserves and existing debt facilities. There will be no changes to the 1300SMILES Board or Senior Management. Transaction is subject to certain conditions including satisfactory due diligence and financiers approval. No security holder approvals are required for this transaction. Completion is expected to occur by December 20, 2019. Smiles Inclusive Limited (ASX:SIL), parent of Totally Smiles Pty Ltd intends to apply the proceeds of the sale in satisfaction of obligations relating to the practices, amortization of debt and working capital. Transaction is not expected to have a material impact on financial year 2020 earnings. 1300SMILES Limited (ASX:ONT) completed the acquisition of Gatton and Laidley Practices from Totally Smiles Pty Ltd for AUD 1.9 million on December 23, 2019.