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Provider: Reuters Investment Profile

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Telehop Communications Inc signs letter of intent to acquire G3 Telecom including wireless operations

Monday, 2 Dec 2013 04:41pm EST 

Telehop Communications Inc:Says expansion into wireless services by signing a letter of intent to acquire G3 Telecom's business including wireless and United States operations, and a private placement of C$3 million of 10% unsecured five year debentures.Says the purchase price for the business will be C$4.3 million, payable C$2.0 million in cash on closing and, C$1.5 million over 24 months with interest at 5 pct, and C$800,000 by the issuance of eight million common shares of Telehop.Says the proceeds of the debentures will finance the cash payment and the closing and integration costs of the new G3 business with Telehop. 

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7 Jul 2014