07:49 AM EST, 12/24/2024 (MT Newswires) -- Genifi (GNFI.V), a provider of advanced financial technology platforms, said overnight Monday that it reached an agreement to transfer the company's tunl.chat customers to Ada Support.

According to Genifi, tunl.chat has been a white label of Ada's platform offered by the company. Given that the company has now reduced its employee headcount and services business significantly, Genifi said it no longer made commercial sense to continue to offer this product.

Ada agreed to pay $20,000 with the transfer of the customers, which will be made effective in early January 2025.

Genifi also announced the termination of its employment agreements with CEO Tom Beckerman and CFO Andrew Hilton.

The company said it will continue to review strategic alternatives and will provide updates in the future.

Genifi's share price slumped 33.3% on Monday to $0.01 on the TSXV.