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Loyalist Group acquisition of Study English
Ticker Symbol: C:LOY
Loyalist Group acquisition of Study English
Loyalist Group Ltd (C:LOY)
Shares Issued 131,908,835
Last Close 2/5/2014 $0.69
Wednesday February 05 2014 - Acquisition
The TSX Venture Exchange has accepted for filing documentation relating to a share purchase agreement dated Jan. 29, 2014, between the shareholders of Study English In Canada Inc., Study English In Canada (Vancouver) Inc., Upper Career College of Business & Technology Inc. and Upper Career College of Business & Technology (Vancouver) Inc., and Loyalist Group Ltd. Pursuant to the agreement, the company shall acquire all the issued and outstanding shares in the capital of the vendors, which are accredited English-as-a-second-language schools and private career colleges located in Toronto and Vancouver.
In consideration, the company will pay $1,016,284, issue 1,666,666 shares at a deemed price of 66 cents to the vendors and extinguish $2,465,208.63 of trade payables owing to the company by the vendors.
For more information, refer to the company's news release dated Jan. 30, 2014.
© 2014 Canjex Publishing Ltd.
