POYDRAS GAMING FINANCE CORP. ("PYD")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: July 21, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to the acquisition by PYD of 100% of the stock of the Integrity Companies ( which is comprised of Integrity Gaming, Inc., Aurora Gaming, Inc., and Integrity Gaming of Kansas, Inc.), for an aggregate purchase price of approximately US$12.6 million, comprised of:
a) The assumption of approximately US$6.3 million in outstanding assumed liabilities,
b) The issuance of 38,927,779 shares of PYD to the principals of the Integrity Companies, and
c) The payment of US$3.8 million in cash consideration.
The owners of the Integrity Companies will also be eligible for an earn-out of up to US$5 million payable in 2016 if certain performance milestones are achieved.
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