12:12 PM EDT, 10/03/2025 (MT Newswires) -- TrustBIX ( TBIXF ) on Friday said it signed an asset purchase agreement dated Oct. 3 with Mindsgate for the acquisition of an Indoor Farm Management System (IFMS) asset.

Subject to the conditions in the agreement, TrustBIX ( TBIXF ) will acquire the IFMS asset in exchange for issuing 6-million units (consideration units) to Mindsgate on the closing date.

Each consideration unit will include one TrustBIX ( TBIXF ) share and a two-year warrant to buy a share for $0.08.

A statement noted that the IFMS is a fully integrated, production-ready platform featuring modules for farm operations, Internet of Things device management, AI-driven plant recognition, traceability, client relationship management, operator training, order management, and resource tracking.

The closing of the proposed transaction is subject to a number of terms and conditions.

The company also said that Adam Morand resigned from the board of directors and as the chief technology officer of the company, effective Oct. 3.

The company shares last traded Oct.1, closing at $0.03 on the TSX Venture Exchange.