Ms. Cathy Smith reports

INTOUCH INSIGHT LTD. CLOSES ALTA360 RESEARCH ACQUISITION

Intouch Insight Ltd. has closed the acquisition of Brand Equity Builders Inc. (BEB), the parent company of both Alta360 Research Inc. (Alta) and its sister company Ardent Retail Services Inc. (Ardent), subject to TSX Venture Exchange acceptance. Alta is a US customer experience measurement company who has provided services across the US since 1999. Ardent is a new venture offering in-store services such as merchandising and re-branding. The definitive agreement was signed on September 15, 2023 (see press release dated September 18, 2023).

Alta had calendar 2022 annual revenues of US$5.0M, and EBITDA1 of 8%. Intouch will not assume any long-term debt from the vendors and the transaction is arm's length from Intouch. The purchase price for the Acquisition is a combination of cash and a promissory note. The purchase price is approximately US$3.125M in cash of which, US$1.5M is payable at closing along with a promissory note for US$0.5M and approximately US$1.125M is payable over the next four years based on achievement of Alta revenue targets and Ardent gross profits. Intouch is financing the Acquisition from its existing cash resources and with a five-year term bank loan for CA$2.0M from BDC Capital with a floating interest rate currently at 9.9% annually. No finder's fees are payable by Intouch. On October 1, Stanley Hart, the former CEO of BEB, Alta and Ardent joined Intouch to focus on revenue growth.

About Intouch Insight

Intouch Insight offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights, and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America's most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and event marketing automation solutions.

About BDC Capital

BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country's most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.

1 EBITDA is a non-IFRS financial measure, which is defined as earnings before income tax expense, financing costs, depreciation and amortization, and impairment charges.

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