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Loyalist Group Ltd Enters Into Agreement To Acquire MTI Community College Inc

Tuesday, 9 Jul 2013 07:30am EDT 

Loyalist Group Ltd announced that it has entered into a definitive agreement to acquire MTI Community College Inc., an accredited community college operator with seven campuses in the Greater Vancouver Area, B.C. The purchase price is $8.0 million of which $6.0 million, subject to certain closing adjustments, is payable in cash at closing and $2.0 million, subject to certain post-closing adjustments, which is payable by way of a non-interest bearing, secured, subordinated promissory note due May 15, 2014. Closing is expected within the next week. 

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3:44pm EDT