Sale of Investment
TORONTO, Nov. 16, 2018 (GLOBE NEWSWIRE) — Aylen Capital Inc. (the “Company”) (CSE: AYL) announced today that it has sold all its shares of one of its investments (the “Investment”) to an unrelated third party. The proceeds payable to the Company in respect of the sale of the Investment on closing are US $642,000. Two additional amounts of the purchase price payable to the Company in respect the sale of its Investment are being withheld by the purchaser (the “Holdbacks”). The first Holdback payable to the Company is approximately US$89,000 and is payable one year after closing and the second Holdback payable to the Company is approximately US$62,000 and is payable two years after closing. The Holdbacks may be reduced by the portion attributable to the Company of any shortfall pursuant to a net tangible asset purchase price adjustment mechanism or any claims for indemnification made by the purchaser.
About Aylen Capital Inc.
Aylen Capital Inc. carries on a web-based survey and data collection business based in Markham, Ontario under the name Grapevine Solutions (“Grapevine”).
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Aylen Capital Inc.