Gea Canada Inc. entered into a definitive agreement to acquire Centrifuges Unlimited Inc. from Appulse Corporation (TSXV:APL) for CAD 10 million on September 18, 2023. Appulse intends to apply a portion of the net proceeds to debt reduction, and will retain the remainder of the proceeds pending a thorough review of its future cash requirements and potential investment opportunities, all with a view of maximizing shareholder value. GEA intends to operate CUI as a separate unit in order to better serve the North American market.

The transaction has been approved unanimously by Appulse?s board of directors. The transaction must be approved by appulse shareholders. On October 26, 2023, Appulse Corporation announced that the shareholders of the Corporation have approved the arm?s length definitive agreement.

The transaction is also subject to other customary closing conditions. It is anticipated that the transaction will be completed on November 1, 2023. Stikeman Elliott LLP acted as legal advisor to Gea Canada Inc.