Internacional (Marketwired, 10 de Septiembre de 2013) Family Memorials Inc. (TSX VENTURE:FAM) ("Family Memorials" or the "Corporation"), is pleased to announce that further to its press release of May 29, 2013, the Corporation has entered into an agreement (the "Share Purchase Agreement") dated September 9, 2013 with the shareholders ("Remco Shareholders") of Remco Memorials Ltd. ("Remco") pursuant to which the Corporation has agreed to purchase and the Remco Shareholders, who are arm's-length to the Corporation, have agreed to sell all of the issued shares of Remco (the "Remco Shares") to the Corporation (the "Remco Acquisition").Remco, a private company, provides monuments and memorials to families and funeral homes in Alberta, Saskatchewan, Manitoba and British Columbia. It has nine retail locations and sales agreements with various funeral homes in Western Canada.
The purchase price is $2,500,000, plus the value of certain inventory, minus the sale proceeds of certain inventory, and minus certain obligations of Remco, all to be determined as at the closing date of the purchase and sale. It is anticipated that the final purchase price, after adjustments will be approximately $2,500,000 and will be payable in cash on closing. The closing of the Remco Acquisition is subject to various conditions precedent including obtaining financing and all regulatory approvals, including acceptance by the TSX Venture Exchange.
About Family Memorials
The Corporation is a Canadian public company operating in the death care industry retailing monuments and memorials through wholly owned subsidiaries and with agency and sales agreements with funeral homes. The Corporation currently trades on the TSX venture exchange under the symbol "FAM".
Forward-Looking Statements
This news release contains forward-looking statements which relate to the proposed acquisition of Remco as contemplated in the Share Purchase Agreement and the anticipated final purchase price of the Remco Acquisition. These forward-looking statements are subject to risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. These risks include the risk that the conditions precedent in the Share Purchase Agreement are not met, the risk that all regulatory approvals are not obtained and the risk that the adjustments will result in a higher final purchase price than anticipated. The anticipated purchase price of the Remco Acquisition is based on the assumption that the net additional amount payable for inventory and the amount of Remco's obligations will off-set the other. Readers are cautioned not to place undue reliance on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact Information
Family Memorials Inc.
Scott Kellaway
President & CEO
807-577-6463
familymemorials@tbaytel.net
www.family-memorials.ca
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