This is just the beginning, and we’re all more than excited to keep pushing onward and upward into the months and years ahead! ” Transaction Overview Pursuant to the terms and conditions of the Definitive Agreement, Treatment has satisfied amounts owing under Rocket Doctor’s existing simple agreement for future equity ("SAFE”) and acquired 100% of the total issued and outstanding securities of Rocket Doctor (the "Rocket Doctor Shares”) for total consideration equal to (i) common shares of Treatment.com with a fair market value of USD$7,688,640, which were paid on closing (the "Closing Consideration Shares”) and (ii) subject to the achievement of certain 12 and 24 month milestones, Treatment.com shall issue additional common shares of Treatment with a fair market value of up to USD$6,902,560 payable to the holders of SAFEs and shareholders of Rocket Doctor in accordance with Rocket Doctors’ governance and security agreements (the "Contingent Purchase Price Shares”), and together with the Closing Consideration Shares (the "Consideration Shares”).
The Closing Consideration Shares were issued at a deemed price of $0.65 per Closing Consideration Share and the Contingent Purchase Price Shares, if they become issuable, will be issued at a deemed price per Contingent Purchase Price Share equal to the 20-day volume weighted average price of Treatment.com’s common shares on the Canadian Securities Exchange, subject however, to any minimum pricing requirements of the Canadian Securities Exchange.The Closing Consideration Shares issued pursuant to the Transaction are subject to contractual escrow for a period of 28 months from the date of Closing, with 20% of such Consideration Shares being released every four months beginning on the date that is twelve months after the date of Closing.
Any Contingent Purchase Price Shares issuable upon achievement of the 12-month milestone, shall be subject to contractual escrow for a period of not less than 30 months whereby 20% of such Contingent Purchase Price Shares will be released on the date the 12 month milestone is achieved (the "12 Month Determination Date”); 20% of such Contingent Purchase Price Shares will be released on the later of: (i) the 12 Month Determination Date; and (ii) 16 months from Closing; 20% of such Contingent Purchase Price Shares will be released on the later of: (i) the 12 Month Determination Date; and (ii) 20 months from Closing; 20% of such Contingent Purchase Price Shares will be released on the later of: (i) the12 Month Determination Date; and (ii) 24 months from Closing; and 20% of such Contingent Purchase Price Shares will be released on the later of: (i) the 12 Month Determination Date; and (ii) 30 months from Closing.
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