OLDCO International Inc. (fka VTLR)

[CatCat]

Evergreen buys Virtualarmour

https://www.newswire.com/news/evergreen-services-group-to-enter-mssp-market-with-agreement-to-21426468


Also:

Sale of the Operating Assets of VirtualArmour International Inc. and related subsidiaries to
Evergreen Services Group
Centennial, Colorado (June 24, 2021) VirtualArmour International Inc. (CSE: VAI; OTCQB:VTLR)
(“VirtualArmour”) announces today that it has signed an Asset Purchase Agreement (the “Asset
Purchase Agreement”) for the sale of substantially all the operating assets (including the
company name) and certain operating liabilities to Evergreen Services Group (the “Asset Sale
Transaction”). Evergreen Services Group is a private equity backed holding company of a
consortium of leading managed IT services companies. This Asset Sale Transaction has been
approved by VirtualArmour shareholders holding a majority of the shares of common stock of
VirtualArmour and VirtualArmourBoard of Directors.
The operations of VirtualArmour will continue as part of Evergreen Services Group and
VirtualArmour’s leadership team, including CEO Russ Armbrust, have accepted positions with
Evergreen, effective as of closing.
The sale price is US$12,250,000 subject to adjustment for closing net working capital and less
payment of taxes, debt, transaction expenses and other adjustments. VirtualArmour intends to
distribute the net proceeds to shareholders of VirtualArmour approximately 90-120 days after
closing. The disbursing agent will be Computershare Investor Services Inc.
Currently, VirtualArmour has 106,533,822 shares of common stock issued and outstanding.
Closing of the Asset Sale Transaction is subject to customary closing conditions.
VirtualArmour CEO Russ Armbrust commented “As part of Evergreen, we will continue providing
great service to our customers while we expand our capabilities in furtherance of our mission to
be the industry’s leading provider of managed security services.”
“We are excited to expand our cybersecurity capabilities through the acquisition of the assets of
VirtualArmour”, added Jeff Totten, Evergreen’s CEO.