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EDMONTON, AB, Dec. 1, 2025 /CNW/ - Dr. Phone Fix Canada Corporation (TSXV: DPF.V) ("Dr. Phone Fix" or the "Company") is pleased to announce that on November 30, 2025, it closed the previously announced acquisition of substantially all the business assets of Geebo Device Repair Inc. ("Geebo"), a leading mobile-device repair chain operating six retail service locations across Nova Scotia.

"This is a major milestone for Dr. Phone Fix and an important step forward in our national expansion strategy," said Piyush Sawhney, founder and Chief Executive Officer of Dr. Phone Fix. "With this acquisition, we are officially entering Atlantic Canada with an established regional platform, a strong and loyal customer base, and a dedicated team that will help accelerate our growth coast-to-coast."

Under the terms of the asset purchase agreement governing the acquisition (the "Purchase Agreement"), Dr. Phone Fix has acquired substantially all of Geebo's business assets, which span six operating stores and one operating facility and include leases that provide optionality for future expansion. The total purchase price consists of a base consideration of $1.35-million, subject to customary adjustments, plus an amount equal to the value of saleable inventory at closing. The purchase price has been satisfied through a combination of $600,000 in cash, a vendor take-back promissory note (the "VTB Note") in the principal amount of $250,000, and common shares of the Company issued to Geebo ("Consideration Shares").

In accordance with the Purchase Agreement, the Company has issued an aggregate of 4,371,256 Consideration Shares to Geebo, comprised of:

 
(i)   2,994,011 Consideration Shares having an aggregate 
       value of $500,000; and 
(ii)  1,377,245 Consideration Shares having an aggregate 
       value equal to the closing value of the purchased 
       saleable inventory of Geebo. 
 

The total number of Consideration Shares issued was determined using the 21-day volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange ("TSXV") as of the last trading day prior to execution of the Purchase Agreement, which was calculated to be $0.167. All Consideration Shares have been placed into escrow and will be released pursuant to a customary escrow agreement. All Consideration Shares will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

Mr. Sawhney continued, "Closing this transaction immediately strengthens our national footprint, expands our OEM-certified repair capabilities, enhances insurance-partner relationships and supports our commitment to sustainable device-care practices. With this foundation in place, Dr. Phone Fix is well positioned to scale meaningfully as we advance our goal of expanding from approximately 35 corporate locations to more than 70 stores nationwide within the next 12 to 18 months."

Following closing, Geebo's team and management will remain with the business to ensure operational continuity and maintain the high standard of service customers have come to expect.

Dr. Phone Fix continues to focus on expanding its network of corporate-owned stores across major provinces while pursuing further acquisitions and partnerships to solidify its position as Canada's leading coast-to-coast device-care and circular-economy brand.

About Dr. Phone Fix

Dr. Phone Fix is an award-winning, eco-friendly, and customer-centric leader in Canada's cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 41 corporately owned retail locations nationwide, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a mission rooted in sustainability, transparency, and exceptional customer service, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: "intend", "believe", "estimate", "expect", "may", "will" and similar references to future periods. Forward looking information includes but is not limited to the Company's successful growth and acceleration into Atlantic Canada and the successful execution of the Company's M&A growth strategy. Although the Company believes that, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the future plans of the Company may differ from those that currently are contemplated. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

SOURCE Dr. Phone Fix

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December 01, 2025 07:30 ET (12:30 GMT)