On July 3, 2024, Meta Materials Inc., through its wholly-owned subsidiary Nanotech Security Corp., entered into an Asset Purchase Agreement with Authentix, Inc. and its Canadian counterpart. The agreement involves the sale of the company's authentication business unit assets, excluding cash, tax refunds, insurance policies, employee benefits, certain real property, and corporate records. Authentix has agreed to pay $10 million, with $4 million already paid as deposits. Additionally, $3 million will be withheld to cover specific liabilities. The deal includes customary representations, warranties, covenants, and indemnification terms. It is subject to standard closing conditions, including the termination of certain NSC employees who will be offered employment by Authentix. The agreement may be terminated under certain conditions, with no penalties except for the repayment of deposits. The transaction is expected to close by August 15, 2024, unless terminated as per the agreement's provisions.

On July 3, 2024, Meta Materials Inc., through its wholly-owned subsidiary Nanotech Security Corp., entered into an Asset Purchase Agreement with Authentix, Inc. and its Canadian counterpart. The agreement involves the sale of the company's authentication business unit assets, excluding cash, tax refunds, insurance policies, employee benefits, certain real property, and corporate records. Authentix has agreed to pay $10 million, with $4 million already paid as deposits. Additionally, $3 million will be withheld to cover specific liabilities. The deal includes customary representations, warranties, covenants, and indemnification terms. It is subject to standard closing conditions, including the termination of certain NSC employees who will be offered employment by Authentix. The agreement may be terminated under certain conditions, with no penalties except for the repayment of deposits. The transaction is expected to close by August 15, 2024, unless terminated as per the agreement's provisions.