SERENIC CORPORATION ("SER") BULLETIN TYPE: Property-Asset or Share Disposition Agreement BULLETIN DATE: July 24, 2014 TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pursuant to the Share Purchase Agreement (the "Agreement") between the Company and Sylogist Inc. ("Sylogist") whereby the Company will sell all or substantially all of the assets of the Company and its subsidiaries (the "Transaction"). In consideration, Sylogist will pay the Company approximately $11,880,431, which the Company will distribute approximately $7,500,000 (on a pre-tax basis) to shareholders of the Company.
Following completion of the Transaction, the Company will have retained the existing intellectual property associated with the Company's cloud technology and will operate this business on a go-forward basis.
For further information, please refer to the Company's press release dated July 24, 2014. ________________________________________
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