Hire Technologies Inc. (TSXV: HIRE) closed on its acquisition of Kavin Talent Management and Recruiting, a Southwestern Ontario-based employment agency.

The deal was initially announced last month. Hire Technologies reported it paid C$781,500 (US$611,735) in cash and issued 321,543 in shares at C$0.622 cents (US$0.487) per share in the deal. The seller may have to repay certain amounts within four years after closing if the business’ results don’t meet prescribed thresholds.

Hire Technologies also closed on previously announced financing.

“We are pleased to welcome Kavin Group and thereby expand our network’s staffing solutions to include general labour and healthcare. Both service offerings are in high demand and provide Hire with new opportunities for growth,” CEO Simon Dealy said. “Not only are we continuing to make great strides in our acquisition strategy, but there has also been overwhelming interest from the investment community to become part of our story. The successful closing of our C$4 million financing gives us a solid foundation to execute on our strategy for 2021.”