Signing of Binding Agreement Sale of the Kyle Road Property /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Aug. 18, 2021 /CNW/ - Kadestone Capital Corp. ("Kadestone" or the "Company") (TSXV: KDSX) (OTCQB: KDCCF), a vertically integrated property company, is pleased to announce that Kadestone (Kyle Road) Property Ltd., a subsidiary of Kadestone, has agreed with Union Allied Capital Corp. to sell Building 1 - 2648 Kyle Road, Kelowna, BC: Strata Lots: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 and 20 for $10,100,000 (the "Sale") in cash. The Sale will be completed pursuant to a purchase and sale agreement and will be subject to standard closing conditions including final acceptance of the Sale by the Exchange. The closing of the Sale is anticipated to occur on or about October 30, 2021.
About Kadestone
Kadestone was established to pursue the investment in, development, acquisition, and management of residential and commercial income producing properties within major urban centres and high-growth, emerging markets in Canada. The Company operates five complimentary business lines spanning building materials procurement and supply, property development and construction, construction finance, asset ownership, and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at www.kadestone.com.