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Canadian crypto exchange Coinsquare to buy rival CoinSmart

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Privately-held Coinsquare will pay $3 million in cash and issue 5,222,222 shares to publicly-traded CoinSmart to buy the latter's operating subsidiary Simply Digital Technologies.

CoinSmart will hold approximately 12% ownership in Coinsquare on a pro-forma basis.CoinSmart co-founders Justin Hartzman, Jeremy Koven, and Michael Koral will join Coinsquare.

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