Brief: Founders Advantage Capital Enters Definitive Agreement To Buy Dominion Lending Centres

Dominion Lending Centres

16/11/2018 21:34

Nov 16 (Reuters) - Founders Advantage Capital Corp  FCF.V :
    * FOUNDERS ADVANTAGE CAPITAL CORP. ENTERS DEFINITIVE
AGREEMENT TO
ACQUIRE FULL OWNERSHIP OF DOMINION LENDING CENTRES; ANNOUNCES
SPECIAL MEETING OF SHAREHOLDERS TO APPROVE ACQUISITION
    * FOUNDERS ADVANTAGE CAPITAL CORP - DEAL FOR $75.772 MILLION
    * FOUNDERS ADVANTAGE CAPITAL CORP - PURCHASE AGREEMENT TO
ACQUIRE
REMAINING 39.88% INTEREST IN DOMINION LENDING CENTRES LIMITED
PARTNERSHIP
    * FOUNDERS ADVANTAGE - TO ACQUIRE REMAINING 39.88% INTEREST
FROM
COS CONTROLLED BY GARY MAURIS AND CHRIS KAYAT AND CERTAIN
MINORITY HOLDERS OF DLC
    * FOUNDERS ADVANTAGE CAPITAL -  PURCHASE PRICE TO BE FUNDED
THROUGH ABOUT 41 MILLION CLASS "A" COMMON SHARES WITH EACH
COMMON SHARE HAVING DEEMED PRICE OF $1.75/SHARE
    * FOUNDERS ADVANTAGE CAPITAL - PURCHASE PRICE TO BE FUNDED
THROUGH
SUBORDINATED 6% PROMISSORY NOTES ISSUED TO DLC PRINCIPALS &
OTHER VENDORS IN AGGREGATE AMOUNT OF $4.0 MILLION
    * FOUNDERS ADVANTAGE - DIRECTORS EXCLUDING DLC PRINCIPALS &
CERTAIN SHAREHOLDERS WHO OWN/CONTROL 49% OF COMMON SHARES
SUPPORT PROPOSED DEAL

Source text for Eikon:  ID:nGNX6r8zMb 
Further company coverage:  FCF.V 

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