Board Change • Jul 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Michael Oddone was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 19
Price target decreased by 50% to CA$0.20 Down from CA$0.40, the current price target is provided by 1 analyst. New target price is 900% above last closing price of CA$0.02. Stock is down 90% over the past year. The company posted a net loss per share of CA$0.079 last year. Board Change • Apr 19
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (4 non-independent directors). Director Jonson Sun is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Tillkännagivande • Feb 07
HIRE Technologies Inc. Announces Resignation of Charlie Cooper as Chief Financial Officer, February 10, 2023 HIRE Technologies Inc. announced that Charlie Cooper, Chief Financial Officer of the Company, has tendered his resignation effective February 10, 2023. The Company expects to announce a new leader for its financial functions in the near term. Recent Insider Transactions • Jan 06
Director recently sold CA$53k worth of stock On the 29th of December, Jonson Sun sold around 2m shares on-market at roughly CA$0.035 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$8.8k more than they sold in the last 12 months. Reported Earnings • Nov 25
Third quarter 2022 earnings released: CA$0.073 loss per share (vs CA$0.014 loss in 3Q 2021) Third quarter 2022 results: CA$0.073 loss per share (further deteriorated from CA$0.014 loss in 3Q 2021). Revenue: CA$7.70m (flat on 3Q 2021). Net loss: CA$6.16m (loss widened CA$5.24m from 3Q 2021). Revenue is expected to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Professional Services industry in North America are expected to grow by 5.6%. Price Target Changed • Nov 16
Price target decreased to CA$0.20 Down from CA$0.40, the current price target is provided by 1 analyst. New target price is 900% above last closing price of CA$0.02. Stock is down 94% over the past year. The company posted a net loss per share of CA$0.079 last year. Reported Earnings • Aug 30
Second quarter 2022 earnings released: CA$0.037 loss per share (vs CA$0.007 loss in 2Q 2021) Second quarter 2022 results: CA$0.037 loss per share (down from CA$0.007 loss in 2Q 2021). Revenue: CA$9.36m (up 47% from 2Q 2021). Net loss: CA$3.14m (loss widened CA$2.67m from 2Q 2021). Over the next year, revenue is forecast to grow 4.6%, compared to a 5.9% growth forecast for the Professional Services industry in Canada. Reported Earnings • Jun 01
First quarter 2022 earnings released: CA$0.018 loss per share (vs CA$0.038 profit in 1Q 2021) First quarter 2022 results: CA$0.018 loss per share (down from CA$0.038 profit in 1Q 2021). Revenue: CA$9.11m (up 66% from 1Q 2021). Net loss: CA$1.47m (down 166% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 8.2%, compared to a 6.2% growth forecast for the industry in Canada. Reported Earnings • May 03
Full year 2021 earnings released: CA$0.079 loss per share (vs CA$0.22 loss in FY 2020) Full year 2021 results: CA$0.079 loss per share (up from CA$0.22 loss in FY 2020). Revenue: CA$27.7m (up 143% from FY 2020). Net loss: CA$5.37m (loss narrowed 50% from FY 2020). Over the next year, revenue is forecast to grow 18%, compared to a 6.3% growth forecast for the industry in Canada. Tillkännagivande • Feb 12
Hire Technologies Inc. Announces the Appointment of Sunil Sharma as Advisory Board Member Hire Technologies Inc. announced the appointment of Sunil Sharma as Advisory Board Member. Sunil is the Managing Director of Techstars Toronto. Techstars is the worldwide network that helps entrepreneurs succeed. To date, Techstars has invested in 2,505 start-ups across the globe and is a recognized leader in connecting entrepreneurs, investors, corporations, and entire ecosystems. juuTechstars operates three accelerators in Canada. Tillkännagivande • Dec 20
Hire Technologies Inc. (TSXV:HIRE) acquired Taylor Ryan Inc. Hire Technologies Inc. (TSXV:HIRE) acquired Taylor Ryan Inc. on December 17, 2020. Pursuant to the transaction, the purchase price is payable as to 80% in cash and as to 20% in common shares of Hire Technologies and was based on the anticipated EBITDA of Taylor Ryan as at the two-year anniversary of closing. As partial payment of the purchase price due at closing, Hire Technologies issued to the vendors an aggregate of 1,031,368 Hire common shares, at a deemed price of $0.797 per share. In accordance with the terms of the share purchase agreement, additional consideration shares, if any, will be issued at a deemed price equal to the greater of (i) the 10-trading day volume-weighted average price of Hire's common shares for the period ending on the second anniversary of the closing date; and (ii) $0.69, representing the discounted market price, as such term is defined in the policies of the TSX Venture Exchange, of Hire's common shares on the last trading day immediately prior to the closing date, up to a maximum of 1,362,318 Hire common shares. The entire leadership team of Taylor Ryan will be continuing in the business following the acquisition.
Hire Technologies Inc. (TSXV:HIRE) completed the acquisition of Taylor Ryan Inc. on December 17, 2020. Tillkännagivande • Dec 16
Hire Technologies Inc. (TSXV:HIRE) completed the acquisition of Kavin Talent Management & Recruiting. Hire Technologies Inc. (TSXV:HIRE) entered into a definitive arm's length share purchase agreement to acquire Kavin Talent Management & Recruiting on November 23, 2020. The purchase price of CAD 1 million, subject to closing working capital adjustment is to be paid by HIRE to the Vendors on closing. This amount is comprised of CAD 0.8 million in cash and up to CAD 0.2 million in common shares of HIRE. HIRE Technologies Inc. will also assume shareholder loans of KTMR due in November 2022. HIRE intends to complete a non-brokered private placement financing of up to CAD 1 million at CAD 0.60 per unit (the "Concurrent Financing"). Hire Technologies will use the net proceeds of the Concurrent Financing towards completion of the acquisition. As per filling on December 3, 2020, HIRE Technologies will not used the proceeds from today announced follow-on private placement of CAD 3 million and previously announced CAD 1 million non-brokered private placement financing to complete the acquisition of Kavin Group. In calendar 2019, KTMR generated approximately CAD 4 million in revenue. KTMR will continue to be operated by its founder, Steve Vincic, who will assume the role of Managing Director of KTMR. Steve Vincic and the staff at KTMR will be joining the HIRE family. The transaction is subject to customary closing conditions including receipt of any necessary corporate and regulatory approvals, including the approval of the TSXV.
Hire Technologies Inc. (TSXV:HIRE) completed the acquisition of Kavin Talent Management & Recruiting on December 14, 2020. HIRE paid to the Vendors CAD 0.78 million in cash and issued 0.32 million HIRE common shares. Included in the agreement is a Vendor guarantee providing payback amounts to HIRE within four years after closing should the Kavin Group's financial results not meet prescribed thresholds. HIRE also closed its non-brokered private placement offerings initially announced on November 24, 2020 and December 3, 2020, of units for aggregate gross proceeds of CAD 0.41 million. The net proceeds of the Offerings will be used to complete the Hire acquisition of the Kavin Group with the balance to be used to execute the Hire business objective of identifying, assessing and executing accretive acquisitions and for general corporate purposes. Tillkännagivande • Dec 15
Hire Technologies Inc. announced that it has received CAD 4.096399 million in funding On December 14, 2020, Hire Technologies Inc. (TSXV:HIRE) closed the transaction. The company has issued 6,827,332 shares for gross proceeds of CAD 4,096,399.20 in the transaction. The transaction included participation from an insider of the company for 42,000 units. The company has paid an aggregate of 359,926 non-transferable finders' warrants and CAD 215,956 in cash to eligible finders of which CAD 81,419 in cash and 135,698 finder warrants has been issued to GIC Merchant Bank Corporation. Tillkännagivande • Dec 04
Hire Technologies Inc. announced that it expects to receive CAD 3 million in funding Hire Technologies Inc. (TSXV:HIRE) announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.60 per unit for gross proceeds of up to CAD3,000,000 on December 3, 2020. Each unit consisting of one common share and one half of one share purchase warrant with each whole warrant exercisable for one common share for a period of 24 months at CAD 0.90 per common share. The company may pay eligible finders a fee consisting of a cash payment equal to 6.5% of the gross proceeds raised from the transaction and non-transferable finders' warrants entitling the holder to purchase that number of common shares as is equal to 6.5% of the units, in each case, attributable to units purchased by subscribers introduced to the company by eligible finders. Each Finder Warrant is exercisable for one common share at a price of CAD 0.60 per common share until 24 months after closing. The securities issued in connection with the transaction will be issued pursuant to an exemption from applicable securities laws and be subject to a four-month and one day hold period from their date of issue under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities. Tillkännagivande • Nov 25
Hire Technologies Inc. (TSXV:HIRE) entered into a definitive arm's length share purchase agreement to acquire Kavin Talent Management & Recruiting. Hire Technologies Inc. (TSXV:HIRE) entered into a definitive arm's length share purchase agreement to acquire Kavin Talent Management & Recruiting on November 23, 2020. The purchase price of CAD 1 million, subject to closing working capital adjustment is to be paid by HIRE to the Vendors on closing. This amount is comprised of CAD 0.8 million in cash and up to CAD 0.2 million in common shares of HIRE. HIRE Technologies Inc. will also assume shareholder loans of KTMR due in November 2022. HIRE intends to complete a non-brokered private placement financing of up to CAD 1 million at CAD 0.60 per unit (the "Concurrent Financing"). Hire Technologies will use the net proceeds of the Concurrent Financing towards completion of the acquisition. In calendar 2019, KTMR generated approximately CAD 4 million in revenue. KTMR will continue to be operated by its founder, Steve Vincic, who will assume the role of Managing Director of KTMR. Steve Vincic and the staff at KTMR will be joining the HIRE family. The transaction is subject to customary closing conditions including receipt of any necessary corporate and regulatory approvals, including the approval of the TSXV. Tillkännagivande • Sep 14
Hire Technologies Inc. (TSXV:HIRE) acquired The Headhunters Recruitment Inc. from the shareholders. Hire Technologies Inc. (TSXV:HIRE) acquired The Headhunters Recruitment Inc. from the shareholders on September 1, 2020. CAD 0.4 million, subject to closing working capital adjustment, was paid by Hire to the shareholders on closing. Each shareholder of The Headhunters may, subject to applicable laws and stock exchange policies, elect to receive up to 50% of the future installment of the purchase price in shares of HIRE, not to exceed an aggregate of 1.9 million consideration shares. Each of the shareholders electing to receive consideration shares shall, as a condition to the issue of such consideration shares to that shareholder, enter into a lock-up agreement restricting the resale of their consideration shares for a period of 24 months following the issuance of the consideration shares. The shareholders have agreed to pay certain predefined amounts to HIRE within the four years after the closing date if the target's financial results do not meet prescribed thresholds. The Headhunters reported CAD 4.1 million in revenue for the twelve months ended December 31, 2019. The entire leadership team of The Headhunters will be continuing in the business following the acquisition. The Headhunters management team will add key leadership to HIRE's other subsidiaries.
Hire Technologies Inc. (TSXV:HIRE) completed the acquisition of The Headhunters Recruitment Inc. from the shareholders on September 1, 2020. DuMoulin Black LLP served as legal advisor to Hire Technologies. Ritzen Warshawski LLP served as legal advisor to the vendors. Tillkännagivande • Jul 30
Hire Technologies Inc. (TSXV:HIRE) cancelled the acquisition of RSI International Systems Inc. (TSXV:RSY.H) from Ernest W. Moody Revocable Trust and others. Hire Technologies Inc. (TSXV:HIRE) entered into a binding letter of intent to acquire RSI International Systems Inc. (TSXV:RSY.H) from Ernest W. Moody Revocable Trust and others on February 21, 2020. Bay Talent Group will acquire 44.4% stake of RSI from Ernest W. Moody Revocable Trust. Hire Technologies will issue shares as consideration to shareholders of RSI, which are subject to the final valuation of Hire Technologies. Combined entity will continue the operations under name of Bay Talent Group Inc. Under the terms of the transaction, RSI will complete shares for debt settlements by issuing up to a maximum of two million shares. Upon completion of the transaction, RSI’s common shares will be de-listed from TSX Venture Exchange.
The transaction is subject to a number of conditions precedent, including: RSI retaining a minimum working capital of CAD 5 million immediately prior to the completion of the transaction; appointment of a nominee to Hire Technologies Board of Directors by Ernest W. Moody Revocable Trust; completion and satisfaction of mutual due diligence by the parties; and receipt of all requisite approvals.
Hire Technologies Inc. (TSXV:HIRE) cancelled the acquisition of RSI International Systems Inc. (TSXV:RSY.H) from Ernest W. Moody Revocable Trust and others on June 22, 2020. The deal was terminated as per the mutual decision of the parties. 