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Bri-Chem Corp To Acquire U.S. Drilling Fluids Wholesaler-Canada Stockwatch News


Thursday, 13 Dec 2012 11:37am EST 

Canada Stockwatch News reported that Bri-Chem Corp. has entered into a letter of intent to acquire 100% of the issued and outstanding shares of a drilling fluids wholesaler based in Oklahoma. The business operates as a wholesaler primarily in Oklahoma, and the transaction will also include the purchase of certain land and building assets related to its operation. The total purchase price is approximately $2.5-million, which includes a $250,000 one-year vendor take back and the issuance of $200,000 in common shares of Bri-Chem. Subject to receipt of Toronto Stock Exchange approval, closing is expected to be on or before December 31, 2012. 

Company Quote

1.77
0.02 +1.14%
22 Aug 2014