- Fuse Battery Metals (TSXV:FUSE) (OTCQB:FUSEF) enters into a binding LOI with Pointor AI, transitioning from mineral exploration to AI-driven recruitment technology.
- The transaction involves issuing 50 million common shares and targets the US$757 billion global recruitment market.
- Pointor AI's platform aims to cut executive hiring time by 80% and costs by up to 90% compared to traditional methods.
Fuse Battery Metals Inc. (TSXV:FUSE) (OTCQB:FUSEF) has announced a binding letter of intent for a significant change in business through the acquisition of Pointor AI. This marks a transition from mineral exploration to a focus on AI-driven recruitment technology. The transaction involves issuing 50 million common shares via a three-cornered amalgamation, aiming to leverage Pointor AI's innovative platform to reduce executive hiring time by 80% and costs by up to 90% compared to traditional methods.
Pointor AI is developing an AI platform that utilizes machine learning and natural language processing to streamline executive recruitment processes. The company targets large enterprises within a global recruitment market valued at US$757 billion, with a dual revenue model that includes per-placement fees and enterprise subscriptions. The firm plans to raise CAD$2.0 million through a private placement at CAD$0.05 per subscription receipt to support its development and operations.
Upon completion of the transaction, Pointor AI's management team, led by CEO Jessie Johnson, will assume operational control. The management change will happen concurrently with the closing of the acquisition, with Johnson and her team taking key leadership roles. Pointor AI's strategic approach intends to capture a portion of the projected market growth, which is estimated to reach US$2.3 trillion by 2033.
The completion of this acquisition, however, will require approval from the TSX Venture Exchange and shareholders. The transaction's milestone-based escrow release conditions and the planned private placement financing are critical components of this strategic shift, positioning Fuse Battery Metals as a new player in the AI recruitment technology sector.
