RedFlagDeals sold for $12MYellow Pages Limited (TSX:Y.TO) (the "Company") announced today that its wholly owned subsidiary Yellow Pages Digital & Media Solutions Limited has entered into an agreement to sell the assets related to the operation of its RedFlagDeals division to VerticalScope Inc. for a value of $12 million payable in two $6 million tranches, the first on closing the second upon meeting certain conditions. Closing of the transaction should occur on or about August 22 , 2018. "The sale of the RedFlagDeals division frees up more resources to devote to creating value and securing our core business. Under the terms of our 10.00% Senior Secured Notes, the net cash proceeds will be included in the next scheduled note redemption payment, on November 30, 2018 ," said David A. Eckert , President and Chief Executive Officer.