Business News • MarketWire • Matrix and Marquest Agree to Binding Transaction Terms |
Matrix and Marquest Agree to Binding Transaction Terms |
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Matrix and Marquest Agree to Binding Transaction Terms
TORONTO, ONTARIO--(Marketwired - May 25, 2013) - Matrix Asset Management Inc. (TSX:MTA) ("Matrix") announces that the terms of its proposed business combination (the "Transaction") with Marquest Asset Management Inc. ("Marquest") previously announced on February 13, 2013 have been revised. A binding promissory note and binding asset sale term sheet were executed by the parties today. The agreements are held in escrow pending Marquest's advance of $1.8 million to Matrix and an external lender's amendment of its loan, which are expected to take place on Monday, May 27, 2013. Closing of the Transaction is subject to customary closing conditions, including obtaining necessary shareholder, stock exchange and regulatory approvals. It is unknown at this time if these conditions will be satisfied or waived.
View More : http://www.marketwire.com/mw/release.do?id=1794861&sourceType=3
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