Key Developments: GDI Integrated Facility Services Inc. (GDI.TO)

GDI.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Medwell Capital Corp and GDI Integrated Facility Services Inc announce arrangement and concurrent public offering
Wednesday, 1 Apr 2015 12:50pm EDT 

Medwell Capital Corp:Enters into an arrangement agreement on March 31 with GDI Integrated Facility Services Inc. relating to a transaction.Pursuant to which the Company proposes to acquire, among other things, all of the issued and outstanding securities of GDI in exchange for the issuance of shares of the Company and a cash consideration.Pursuant to Arrangement Agreement, Company has been assigned a value fixed at $11,200,000, an amount equal to about $1.54 per currently issued and outstanding common share of the Company.Representing a premium of about 121 pct over the volume weighted average price of the Common Shares on the TSX Venture Exchange of $0.697 over the last 20 trading days.As part of the Arrangement, GDI will be combined into Medwell to form a single entity to be renamed GDI Integrated Facility Services Inc that will carry on the business of GDI.In connection with the Arrangement, a public offering of securities will be carried out by the Company, which will be conditional on, and will close concurrently with, the Arrangement.  Full Article

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