VANCOUVER, British Columbia, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG, Financial) (“DLC” or the “Corporation”) is pleased to announce that it has entered into a purchase agreement with Next4 Holdings Inc. (“Next4”) to acquire the remaining 30% of 10017078 Canada Inc. (“Newton Holdco”) that DLC does not already own (the “Newton Acquisition”) for an aggregate purchase price of $24,000,000 (the “Purchase Price”). The Purchase Price is to be comprised of a cash payment of $16,865,000 and the issuance of 1,853,247 class “A” common shares of the Corporation (the “Common Shares”) having a deemed value of $3.85 per share (the “Share Consideration”). DLC currently owns 70% of Newton Holdco and Newton Holdco owns 100% of the issued and outstanding shares of Newton Connectivity Systems Inc. (“Newton”). Closing of the Newton Acquisition is expected to occur on or about February 28, 2022.
Dominion Lending Centres Enters Agreement to Acquire Remaining 30% of Newton Connectivity Systems
Feb 16, 2022
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