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Grow Capital Acquires Public Employee Retirement Assistance
Thursday 13 August 2020

Nevada, US-based investment company Grow Capital, Inc (OTCPK: GRWCD) (GRWCD) has agreed to acquire 100% of ownership interests of Nevada-based marketing services company Public Employee Retirement Assistance, LLC, in a stock exchange agreement, the company said.

Grow Capital, Inc. will tender shares of its common stock for PERA, equal to the number of exchange shares divided by the amount of outstanding PERA ownership interests, where the number of exchange shares is equal to USD 10m divided by the 10-day volume weighted average price per share.

PERA owners may earn a cumulative total of up to USD 5m of shares of the company's common stock for each of year one, two, and three following the closing.

Additional terms were not disclosed.

PERA serves major insurance and financial service companies and will expand its client base through this new ownership.

PERA connects retirement professionals and public employees who want help during school and government building closures. PERA has over 5,000 trusted advisors in its network to help public employees and has successfully set near half a million appointments for its clients since its inception.
Date Published: 13/08/2020