Inspira Financial Inc entered into a definitive agreement to acquire Chrysalis Capital IX Corporation (TSXV:NYN.P) from Chrysalis Capital Group, Inc., Asset Management Arm, Robert Munro, Michael Dalsin and other shareholders in a reverse merger transaction.

Inspira Financial Inc entered into a definitive agreement to acquire Chrysalis Capital IX Corporation (TSXV:NYN.P) from Chrysalis Capital Group, Inc., Asset Management Arm, Robert Munro, Michael Dalsin and other shareholders in a reverse merger transaction on October 20, 2014. The transaction will result in the Inspira shareholders holding the majority of the outstanding shares of the combined company. Upon completion of the Amalgamation, Inspira plans to continue adding clients to its RLOC service both through acquisition and cross selling, as well as direct marketing.

The definitive agreement is subject to a number of conditions precedent, including, each party being satisfied with the results of its due diligence review of the other, completion of an audit of the financial statements of Inspira, regulatory approvals including the approval of the TSX-V, the approval by the Board of Directors of both Inspira and Chrysalis IX of the final terms of the proposed transaction, the resignation of certain Directors and officers of Chrysalis IX, and the appointment of Inspira's nominees, the change of the Corporation's name and approvals from majority of the minority of Chrysalis IX's shareholders. The transaction has been approved by Chrysalis IX's independent Board members.