Genetic Technologies (ASX:GTG) has signed binding term sheets to acquire Ellerfield Wealth for AU$7 million and Walker Capital Private Wealth for AU$840,000, to be paid fully in company shares, according to a June 6 filing with the Australian bourse.
The acquisitions are subject to shareholder approval, due diligence, capital raising, and reinstatement on the Australian Stock Exchange, the filing said.
Executive Chairman Michael Walker holds majority stakes in both firms, the filing added.
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