Post by
BSdetector2016 on Oct 13, 2017 10:52am
NEWS : Considering Selling Kentucky Locations
October 13, 2017 08:00 ET | Source: Liquor Stores N.A. Ltd. EDMONTON, Alberta, Oct. 13, 2017 (GLOBE NEWSWIRE) -- Liquor Stores N.A. Ltd. (the "Corporation" or "Liquor Stores") (TSX:LIQ) announces that it has entered into a preliminary non-binding term sheet with a third party in connection with the proposed sale of the Corporation's (owned via subsidiaries) fifteen (15) Liquor Barn locations in the state of Kentucky. This is part of the Corporations broader evaluation of strategic objectives and options. Readers are cautioned that the terms of the potential transaction are being negotiated and have not been finalized. Accordingly, there is no assurance that a definitive agreement in connection with the proposed transaction will be agreed to or that any sale of some or all of the Kentucky Liquor Barn locations will be completed to the proposed purchaser or at all. Further if the proposed transaction is not completed, the Corporation may elect to sell to another party or, alternatively, not to further pursue a sale of any or all of the Kentucky locations at this time. The completion of any transaction will require, amongst other things, the approval of the transfer of liquor licenses to a prospective purchaser by the applicable regulatory authorities. The Corporation does not intend to make further comment on this, or any, potential sale until such time as the Board of Directors of the Corporation has approved a specific transaction or authorized other action requiring disclosure.