Shares Up as Company Sells Geology Division

Shares Up as Company Sells Geology Division

By: Dylan Sikes – AllPennyStocks.com News

Monday, December 5, 2022

This company focuses on addressing the adverse impacts of climate change globally, and shares are trading sharply higher after selling its geology division. 

 

Artificial intelligence company, Minerva Intelligence Inc. (TSXV: MVAI) (OTCQB: MVAIF) entered into a definitive agreement with Bentley Systems, Incorporated (Nasdaq: BSY) for Seequent, The Bentley Subsurface Company, to acquire Minerva's geology division including the DRIVER software platform, for $1 million CAD, announced in its press release today.

Minerva is focused on building decision support tools for climate risk, mineral exploration and mining. Scott Tillman, CEO & Director of Minerva stated: "DRIVER and our entire geology division has built a world class tool over the past three years, and I am so proud of the team and what they have accomplished. Bentley and the Seequent team are the perfect home to take DRIVER to the next level."

Closing of the sale of the geology division is subject to certain customary conditions precedent, but is not subject to any regulatory or shareholders' approvals. The sale of DRIVER will allow Minerva to focus its future software efforts on climate risk reporting and adaptation. 

Canadian shares of Minerva were trading sharply higher, at $0.03 in afternoon trade.


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