Halifax, Nova Scotia--(Newsfile Corp. - July 31, 2026) - Aitenders Technologies Inc. (formerly, eXeBlock Technology Corporation) (CSE: XBLK.X) (the "Company") is pleased to announce the closing of its reverse takeover transaction (the "Transaction") with Aitenders, a France-based developer of an end-to-end AI-powered platform for tender response and contract management.
The Transaction was completed under the terms of a share exchange agreement dated December 22, 2025, as amended, among the Company, Aitenders and the shareholders of Aitenders, pursuant to which the Company acquired all of the issued and outstanding shares of Aitenders (the "Aitenders Shares"). In connection with the Transaction, prior to closing, the Company:
- completed a non-brokered private placement of subscription receipts (the "Subscription Receipts") for aggregate gross proceeds of $2.4 million (the "Concurrent Financing");
- consolidated its outstanding common shares ("Shares") on the basis of one "new" Share (each, a "Resulting Issuer Share") for approximately every 12.589839 "old" Shares such that immediately prior to closing there were approximately 6,000,000 Resulting Issuer Shares issued and outstanding on a non-diluted basis; and
- changed its name to "Aitenders Technologies Inc.".
Following completion of the Transaction, Aitenders has become a wholly owned subsidiary of the Company, and the Company will continue the business of Aitenders.
About Aitenders
Aitenders is a private company existing under the laws of France which is engaged in the development and sale of an end-to-end AI-powered platform for tender response and contract management purpose built for complex construction and infrastructure projects. Founded in 2019 and headquartered in Saint-Étienne, France, Aitenders has been recognized among the Top 50 ConTech Startups 2026 globally by Cemex Ventures, serving enterprise customers including three of the top five largest construction companies in Europe and North America.
Conditional Approval to List the Resulting Issuer Shares
Conditional approval has been granted by the Canadian Securities Exchange (the "CSE") to list the Resulting Issuer Shares under the ticker symbol "BIDS", subject to the Company satisfying the CSE's final listing requirements. Subject to the satisfaction of such requirements, the Company expects the Resulting Issuer Shares to commence trading on the CSE during the week of Monday, August 3, concurrent with which the Company will file its Form 2A - Listing Statement on the CSE's website and under the Company's profile on SEDAR+.
Transaction Details
Pursuant to the Transaction, the former shareholders of Aitenders exchanged all of their Aitenders Shares for an aggregate of 54,000,000 Resulting Issuer Shares at a deemed price of $0.5833 per Resulting Issuer Share such that, immediately following closing of the Transaction but before accounting for the conversion of the Subscription Receipts issued under the Concurrent Financing, the Company had approximately 60,857,143 Resulting Issuer Shares outstanding, of which 54,000,000 Resulting Issuer Shares are held by the former shareholders of Aitenders, and approximately 6,000,000 Resulting Issuer Shares are held by former shareholders of eXeBlock Technologies Corp. Accordingly, the former shareholders of Aitenders have acquired control of the Company and the Transaction constitutes a "Fundamental Change" under the policies of the CSE.
In consideration for its services in connection with the Transaction, the Company paid Numus Capital Corp. ("Numus") a corporate finance fee of $500,000, which fee was settled through the issuance of 857,143 Resulting Issuer Shares at a deemed issue price of $0.5833 per Resulting Issuer Share, being the same issue price as under the Concurrent Financing.
Concurrent Financing
In connection with the Transaction, the Company completed the Concurrent Financing, consisting of the issuance of 4,114,521 Subscription Receipts at a price of $0.5833 per Subscription Receipt for aggregate gross proceeds of approximately $2.4 million, with each Subscription Receipt automatically converting into one (1) Resulting Issuer Share for no additional consideration upon the satisfaction of certain escrow release conditions, including the closing of the Transaction.
Numus acted as the exclusive agent for the Concurrent Financing. In consideration for its services, the Company paid Numus a cash commission of $168,000 (equal to 7.0% of the aggregate gross proceeds of the Concurrent Financing) and issued 288,016 non-transferable broker warrants ("Broker Warrants") to Numus (equal to 7.0% of the number of Subscription Receipts issued under the Concurrent Financing), with each Broker Warrant exercisable to acquire one (1) Resulting Issuer Share at an exercise price of $0.5833 per Resulting Issuer Share until June 25, 2028.
Early Warning
Pursuant to the Transaction, Geoffrey Guilly, co-founder of Aitenders, acquired beneficial ownership of, or control or direction over, an aggregate of 38,150,564 Resulting Issuer Shares, of which 37,353,741 Resulting Issuer Shares are held directly by Mr. Guilly and 796,823 Resulting Issuer Shares are held through Amplio International Consulting and Trading ("Amplio"), a company controlled by Mr. Guilly.
Following closing of the Transaction, Mr. Guilly beneficially owns, or exercises control or direction over, 38,150,564 Resulting Issuer Shares, representing approximately 62.69% of the issued and outstanding Resulting Issuer Shares before accounting for the conversion of the Subscription Receipts, and approximately 56.49% on a fully diluted basis. Immediately prior to the Transaction, Mr. Guilly did not beneficially own, or exercise control or direction over, any Shares of the Company.
The aggregate 38,150,564 Resulting Issuer Shares acquired by Mr. Guilly and Amplio pursuant to the Transaction were issued in exchange for Aitenders Shares at a deemed price of $0.5833 per Resulting Issuer Share, representing aggregate deemed consideration of approximately $22,253,224. The Resulting Issuer Shares held by Mr. Guilly and Amplio are subject to escrow in accordance with National Policy 46-201 Escrow for Initial Public Offerings. Such Resulting Issuer Shares were acquired for investment purposes. Mr. Guilly may, from time to time and subject to applicable securities laws, increase or decrease his and Amplio's shareholdings or continue to hold Resulting Issuer Shares as he may determine appropriate in the normal course. In the future, Mr. Guilly may, directly or indirectly, acquire additional Resulting Issuer Shares or dispose of such shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.
A copy of the early warning report to be filed by Mr. Guilly in connection with the Transaction will be available under the Company's profile on SEDAR+ at www.sedarplus.ca. This disclosure is being provided pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
About Aitenders Technologies Inc.
Following completion of the Transaction, the Company is engaged through its wholly owned subsidiary Aitenders in the development and sale of the intelligence operating system for construction. The Aitenders platform masters every requirement, clause, and commitment across a project's full lifecycle, from bid to final milestone. Each project compounds the client's proprietary knowledge into a data asset no competitor can replicate. Sovereign by design, the platform deploys from cloud to fully offline and works with any AI model. The Company serves enterprise customers in Europe and North America, including three of the top five largest construction companies in Europe.
Contact Information
Geoffrey Guilly, Chief Executive Officer
Email: geoffrey.guilly@aitenders.com
Investor Relations Website: https://investors.aitenders.com/
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements with respect to future events or the Company's future performance and business, and may generally be identified by the use of forward-looking terminology such as "anticipates", "expects", "intends", "plans", "will", "would", "may", "believes", "estimates", or variations of such words and phrases, or statements that certain actions, events or results "will", "may", "could" or "would" occur or be achieved.
This news release includes, without limitation, forward-looking information concerning: the anticipated listing of the Resulting Issuer Shares on the CSE under the ticker symbol "BIDS" and the expected commencement of trading of the Resulting Issuer Shares during the week of Monday, August 3, 2026; the satisfaction by the Company of the CSE's final listing requirements; the anticipated filing of the Company's Form 2A - Listing Statement on the CSE's website and on SEDAR+; the Company's continuation of the business of Aitenders following the Transaction and the operation of Aitenders as a wholly owned subsidiary of the Company; the conversion of the Subscription Receipts issued under the Concurrent Financing into Resulting Issuer Shares upon satisfaction of the applicable escrow release conditions; the intended filing of an early warning report by Geoffrey Guilly under the Company's profile on SEDAR+; and statements regarding the Company's business objectives, strategy, focus on the construction sector, and the development, commercialization and capabilities of its end-to-end AI-powered platform for tender response and contract management.
Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management of the Company as of the date of this news release, are inherently subject to significant business, economic, regulatory and competitive uncertainties and contingencies. These assumptions include, without limitation, that the CSE's final listing requirements will be satisfied by the Company in a timely manner or at all; that the integration of Aitenders will proceed as anticipated; that the Company will be able to develop, protect and commercialize its technology and platform as expected; and that general economic, market and industry conditions will be consistent with management's current expectations.
By its nature, forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation: the risk that the CSE's final listing requirements are not satisfied in a timely manner or at all; that the escrow release conditions applicable to the Subscription Receipts may not be satisfied; risks relating to the early-stage nature of the Company's artificial intelligence technology and the ongoing development of its products and platform; the Company's ability to attract and retain key personnel and to obtain financing on acceptable terms; competition; the protection of intellectual property; and general economic, market and business conditions. The foregoing are not exhaustive of the factors that may cause the Company's results to differ materially from any future results, performance or achievements expressed or implied by forward-looking information. Additional risk factors will be described in the Company's Form 2A - Listing Statement and in the Company's other disclosure documents to be filed on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date of this news release, and the Company does not undertake, and expressly disclaims, any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Not for Distribution in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307535
Source: eXeBlock Technology Corporation
