AGRIMARINE HOLDINGS INC. ("FSH")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: December 4, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a Share Purchase Agreement dated as of November 27, 2013 among AgriMarine Industries Inc. (the "Purchaser"), a wholly-owned subsidiary of the Company, and the shareholders of West Coast Fish Culture Ltd. ("Holdco") and West Coast Fish Culture (Lois Lake) Ltd. ("WCFC") (collectively the "Sellers") whereby the Purchaser will acquire all the issued and outstanding common shares of WCFC and Holdco. WCFC owns a hatchery and fish farm located at Lois Lake, outside of Lang Bay, British Columbia and a fish processing facility in Powell River, British Columbia. The principal business of Holdco is holding WCFC shares (being approximately 35% of the outstanding WCFC shares). Consideration is CDN$5,200,000 (subject to agreed adjustments, including post-closing biomass inventory reconciliation). Any adjustments will initially be covered, as applicable, by $500,000 withheld by the Purchaser from the purchase price and deposited in escrow together with an additional $500,000 deposited in escrow by the Purchaser.
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