My Rewards International strategic acquisition

My Rewards International (ASX:MRI) has completed negotiations to acquire Fly Wallet Pty Ltd by purchasing its parent company, Etimoney Pty Ltd. This move is part of MRI's plan to develop a Global Rewards and Loyalty Program. The acquisition involves buying 100% of Etimoney's shares, with completion expected within 60 days subject to regulatory approvals.

Overview and future outlook

My Rewards International (ASX:MRI) announced its acquisition of Fly Wallet Pty Ltd through Etimoney Pty Ltd to enhance their global rewards and loyalty offerings. The company has secured $1.3 million from investors for share placement, aiming to issue 180,555,556 shares. The acquisition's conditions include valuation alignment, shareholder approvals, and ASX review. The deal is crucial for MRI's growth in the rewards sector. Completion is expected in 60 days, pending regulatory approvals, with plans for additional capital raise post-AGM.

Executive insights on strategic acquisition

The acquisition aligns with our goal to create a Global Rewards and Loyalty Program.