Code Rebel Corp (NasdaqCM:CDRB) entered into a definitive agreement to acquire all membership interests in ThinOps Resources LLC from Thomas M. Moreno for $9.3 million in cash and stock on July 27, 2015. Code Rebel Corp will issue 0.6 million shares of Code Rebel Corp and will pay a cash payment of $0.75 million inclusive of payment to debt holders of ThinOps Resources. ThinOps Resources recorded revenue of over $2 million in 2015. In connection with the purchase agreement, Code Rebel Corp also entered into an employment letter agreement with Thomas M. Moreno to serve as ThinOps' President. The deal is subject to execution of employment agreement and license agreement. The transaction is expected to close by July 31, 2015. Spencer G. Feldman of Olshan Frome Wolosky LLP acted as a legal advisor to Code Rebel Corp.

Code Rebel Corp (NasdaqCM:CDRB) completed the acquisition of all membership interests in ThinOps Resources LLC from Thomas M. Moreno on July 27, 2015.