Update on MVID Sale
Sydney, Mar 17, 2016 AEST (ABN Newswire) - Invigor Group Limited (
ASX:IVO) (HYROF:OTCMKTS) ("Invigor") notes the recent announcement by IVS Holdings Limited (formerly Agri-Trade Holdings Limited) (ASX:IVS) ("IVS") that it has withdrawn its prospectus and that it is continuing discussions with IVS HK Limited and My Verified ID Holdings Pty Ltd ("IVS Group") with the aim of renegotiating the transaction to acquire the IVS Group.
Invigor previously announced that it had agreed to sell its interest in the IVS Group for $2m in cash and shares contingent on the completion of the capital raising by IVS under the prospectus.
Invigor has now met with IVS and their financial supporters. There are currently several proposals to acquire IVS Group that are being considered which will substantially reinstate the current arrangements. Invigor will further update the market once a proposal has been finalised.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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