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Teliphone Corp announces sale of its subsidiary Teliphone Navigata-Westel Communication Inc. to Investel Capital Corporation

Monday, 20 Jan 2014 09:09am EST 

Teliphone Corp:Says it has executed a definitive agreement with Investel Capital Corporation (Investel) for the sale of all issued and outstanding shares of its wholly-owned subsidiary, Teliphone Navigata-Westel Communication Inc.Says under the agreement which received majority shareholder consent and was executed on Jan. 20, 2014 with an effective date of Dec. 31, 2013 Investel will pay C$45 million for the shares.Says sale was prompted in part by the inability of Teliphone Corp to receive a waiver from the requirement under US Securities and Exchange Commission Regulations S-X to audit Navigata Communications 2009 Inc. 

Company Quote

13 Feb 2015