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;