FAX Capital Corp. Announces Acquisition of Carson, Dunlop & Associates Ltd.
12/23/2020 | 08:30am EDT
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TORONTO, Dec. 23, 2020 (GLOBE NEWSWIRE) FAX Capital Corp. (“
FAX”) (TSX: FXC and FXC.WT) today announced that it has, through its wholly-owned subsidiary, signed a definitive agreement to acquire a controlling interest in Carson, Dunlop & Associates Ltd. (“
Carson Dunlop”, or the “
Company”), partnering with the Company’s Co-Founder Alan Carson. FAX will invest $11,750,000 from its available cash balance for approximately 78 per cent of Carson Dunlop, on a cash free, debt free basis, representing a total enterprise value of $15 million. (All currency figures are in Canadian dollars.)