CERF INCORPORATED. ("CFL") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: February 4, 2016 TSX Venture Tier 2 Company
TSX Venture Exchange (the "Exchange") accepts for filing documentation pursuant to a Share and Loan Purchase Agreement, dated February 2, 2016 between the Company and Zedcor Oilfield Rentals ("Zedcor").
The company has agreed to purchase all of the issued and outstanding shares of, as well as the assumption of all outstanding debt of Zedcor.
In consideration for the transaction, the Company will pay a total of 3,049,968 Common Shares, subject to an Escrow Agreement which releases the shares over the course of 3 years. In addition, the company will provide 4,400,000 preferred shares, which will include the ability to convert such shares into Common Shares in certain circumstances, beginning three years from the closing date. Finally, the transaction includes a Vendor Take Back Note in the principal amount of $5,000,000. ________________________________________
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