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Loyalist Group Ltd Closes Acquisition Of Urban International School

Friday, 24 May 2013 09:01am EDT 

Loyalist Group Ltd announced that it has completed the acquisition of Urban International School (UIS) originally announced on May 16, 2013, a licensed University and College Transfer credit school based in Toronto. UIS has a permit to recruit Chinese students directly which is expected to open cross-marketing opportunities for Loyalist. The total purchase price was $286,000. Of the total, $50,000 was satisfied through the issuance of a promissory note to the vendor, subject to adjustment, and the remaining $236,000 was satisfied through the issuance of 400,000 common shares of Loyalist to the vendor at a price of $0.59 per share. 

Company Quote

-0.01 -1.64%
17 Apr 2014