The last statements had the co. announce a sale leaseback of the Holland
Landing facility.
https://www.avisonyoung.ca/properties?propertyId=67TollRoad
Going forward, they will need half the space at the max.
Leaving 150k for essentially sale, with about 11 acres of land outside to increase footprint for the new owner.
Zoned industrial could be worth 2 million an acre. This is a prime location, zero vacancy.
The building between $200 and 250 a foot.
They will have ample funds to reduce costs via automation, downsize the operations.
They can pay off the high coupon debt.
They should have several dollars surplus per share post this trade. I expect Pender will do a special div. to clear out their trade.