Darwin Sale Accepted
ZoomerMedia sale of Darwin CX
2020-06-09 02:25 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to the filing of the asset purchase agreement dated May 18, 2020, between ZoomerMedia Ltd. and Irish Studio LLC (the purchaser), an arm's-length party to the company. Pursuant to the agreement, the purchaser will acquire all of the assets of the company's wholly owned subsidiary, Darwin CX Inc., for a total consideration of $7,465,000, of which $700,000 was paid to the company concurrently on signing of the agreement. The remainder of the consideration will be paid at closing in a combination of cash and a promissory note for $1.28-million issued by the purchaser.