23/11/02 - TSX Venture Exchange Bulletins
TSX VENTURE COMPANIES
AVANTE CORP. ("XX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: November 2, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to a share purchase agreement (the "Agreement") dated September 21, 2023, between Avante Corp. (the "Company") and an arm's length party (the "Seller"). Pursuant to the Agreement, the Company has acquired 55% of the shares of North Star Support Group S.R.L., a risk management and security company operating globally. As consideration on closing, the Company will pay the Seller an aggregate of EUR 1,300,000 to be satisfied through the following: (i) the payment of EUR 1,200,000 cash payment on closing and (ii) the issuance of 154,301 common shares in the capital of the Company.
Additionally, the Company will enter into a Loan and Shareholders' Agreement with the Seller. Pursuant to the Loan Agreement, the Company will advance to the Seller a loan in principal amount of up to EUR 1,000,000 for a term of 4 years, bearing interest at a rate equal to the Bank of Canada Prime Rate plus 1%, and repayable in 8 quarterly equal repayments starting on the date that is 24 months after the date of each drawdown under the loan.
For further details, please refer to the Company's news releases dated September 19, 2023.
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