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Calgary, Alberta (Newsfile Corp. - June 30, 2021) - Zedcor Inc. (TSXV: ZDC) (the Company or Zedcor ) is pleased to announce that further to its press release dated May 27, 2021, it has completed the sale of its Rentals Segment assets to Maynbridge Capital Inc ( Maynbridge ).
Gross cash proceeds from the transaction were $11.3 million. This amount will be applied against Zedcor s indebtedness to Maynbridge. As a result of the transaction, the Company s outstanding debt to Maynbridge, which excludes amounts drawn on the operating line of credit, is below $5.0 million. The Company s outstanding debt now represents less than two times EBITDA on a trailing twelve-month basis. As a result of the reduced leverage, Zedcor has been in discussions with its banking partners to secure additional equipment financing to expand its fleet of MobileyeZ security towers and continue growing its operations across Canada.
Calgary, Alberta (Newsfile Corp. - May 31, 2021) - Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") is pleased to that effective June 1, 2021, Wade Felesky will be appointed Chairman of the Board
Zedcor Inc. Enters into Agreement to Sell Rentals Segment Assets for $11.3 Million
Calgary, Alberta (Newsfile Corp. - May 27, 2021) - Zedcor Inc. (TSXV: ZDC) (the Company or Zedcor ) today announced it has entered into an agreement with a privately held company, controlled and owned by Maynbridge Capital Inc., to sell the assets of the Company s Rentals segment (the Rentals Assets ) for cash proceeds of $11.3 million (the Transaction ).
Transaction Details:
In addition to the $11.3 million of cash proceeds, Zedcor will receive:
a bonus payment of 35% for each dollar of earnings before interest, taxes, depreciation and amortization ( EBITDA ) above an annual threshold summarized in the table below which will be calculated on the first, second, and third anniversary dates of the closing of the transaction;
Zedcor Inc Announces First Quarter Results for 2021 and Sale of Certain Rental Assets finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Zedcor Inc. Announces 2020 Year End Results and Continued Expansion of MobileyeZ Fleet
Calgary, Alberta (Newsfile Corp. - April 9, 2021) - Zedcor Inc. (TSXV: ZDC) (the Company ) today announced its financial and operating results for the year ended December 31, 2020 and continued expansion of its MobileyeZ fleet of security towers, including investment in environmentally friendly options.
Expansion of MobileyeZ fleet:
Due to increased customer demand, the Company continues to innovate and invest in its fleet of security towers, including investment in environmentally friendly options to help customers meet their carbon reduction targets. As at December 31, 2020, the Company had 130 solar hybrid security towers in its fleet ( Solar Hybrid MobileyeZ ). 84 of these towers were equipped with disturbance sensors. Subsequent to the end of the year, the Company announced the purchase of 20 additional Solar Hybrid MobileyeZ in order to satisfy customer demand. These security towers are