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Re: Awigo post# 100480

Monday, 03/02/2020 10:12:21 AM

Monday, March 02, 2020 10:12:21 AM

Post# of 145220
They likely were complaining because they lost. But anyway, here is what PWC publicly stated to the judge that was offered:

GFive:

$3.5M CAD on closing plus, if it were able to raise $20M in additional financing, an option of i) another $2M payment, or a $1M payment plus 5% of the NewCo's EBIT for 10 years capped at $10M

Visolis

$4.34M US on closing

Both bids were only for the assets, however it is noteworthy that GFive did point out specifically that it would not assume the liabilities or employment contracts. Needless to say, this is a specific rejection of any share purchase theory as buying the shares would, of course, obligate the purchaser to take on the liabilities.

The entire APA is available publicly. The T&C was under seal until the transaction closed.



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