SYDNEY, AUSTRALIA: Jaxsta Limited, the world’s largest dedicated database of official music credits, has executed a Heads of Agreement to acquire Vampr, the world’s leading music industry social network connecting musicians, creatives and artists so they can collaborate, create new music and monetize their work.

Jaxsta will acquire 100% of the assets or the entire Issued Capital of Vampr, in exchange for 88,734,476 shares in Jaxsta which represents 19.99% of the currently issued capital of Jaxsta after the issue of these shares. The Equity Consideration will be subject to an escrow period of one year.

In addition to the Equity Consideration, Jaxsta will pay up to US$250,000 and any accrued interest within one year of completion to extinguish a short-term loan facility provided by a Vampr Director to Vampr. The Cash Consideration may be converted into shares at an exercise price of $0.05 anytime during that 1 year period.

This acquisition provides an accelerated implementation of Jaxsta’s growth strategy, immediately increasing Jaxsta’s footprint in the creator community by 1.3m creators and significantly expanding the potential user base for the launch of vinyl.com.

Importantly, Vampr users represent a growing portion of the independent music community and will be able to increase adoption of the Jaxsta platform and product offering.

The Vampr creator user base of 1.3 million, grew by 23% over the previous 12 months, and is expected to drive growth in Jaxsta subscriptions. It makes money from paid subscriptions (Vampr Pro), advertising, royalty collection and other sources.

Beth Appleton, Jaxsta’s CEO stated, “The acquisition of Vampr represents a rare opportunity to accelerate our B2C expansion through the launch of our e-commerce platform, vinyl.com. We continue to focus on driving revenue growth and profitability capitalizing on the bedrock of the Jaxsta platform and the moat we have built through our industry leading music data solution.

Together, I believe we are going to be an exceptional business, forming a fully integrated music tech company and platform that will be at the forefront of the rapidly evolving music industry landscape.”

Josh Simons, Founder and CEO of Vampr added “Combining our grassroots network with the definitive official music credits database is both a highly strategic and logical combination which we believe will provide great value to Vampr and Jaxsta’s users as well as our mutual shareholders. Our team cannot wait to get started and to support Jaxsta in realising their Vinyl.com vision and I’m personally very excited to work with Beth and the Jaxsta team to build transformational products for the music industry and music lovers.”

Paul Wiltshire, CEO of Songtradr commented, “Josh has systematically built the Vampr platform and community successfully since launching. The Vinyl.com target audience and Vampr audience represent highly complementary cohorts so this transaction will in my view greatly accelerate adoption of Vinyl.com following launch.

Equally, the Jaxsta platform will similarly benefit from increased adoption by the Vampr user base as musicians and artists are often taking their first steps into the music industry via Vampr. It’s effectively the top of the funnel. This is a really exciting combination.”