GREY:LGLTF - Post by User
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schoolboyon Nov 11, 2015 1:33am
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Post# 24279943
RE:RE:NR. sale of Kim okran
RE:RE:NR. sale of Kim okranBuy high; sell low. It's a trend.
January 12, 2015
Loyalist will pay $4.65 million for Kim Okran, of which $3.9 million will be paid in cash, subject to certain closing adjustments, and $0.75 million will be paid through the issuance of 1,442,307 Loyalist common shares at a price of $0.52 per share, with 75% of such shares being held in escrow for a period up to 12 months following closing as security for certain defined post-closing adjustments. The parties expect to complete the transaction on or around January 27, 2015.
Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.loy/kgic-inc#tgbDoM2mjhojwZFb.99
TORONTO, ONTARIO--(Marketwired - Nov. 9, 2015) - KGIC Inc. ("KGIC" or the "Company") (TSX VENTURE:LRN) announces the sale of Kim Okran to an arms-length third party. The sale of Kim Okran closed on November 6, 2015, with the purchaser assuming all net liabilities, inclusive of severance obligations and forgiveness of certain intercompany amounts. At June 30, 2015, the Company reported an immaterial amount of consolidated net assets and year-to-date net losses of $0.43 million attributable to Kim Okran.