Maynbridge Capital Inc. agreed to acquire Rental Segment assets of Zedcor from Zedcor Inc. (TSXV:ZDC) for CAD 11.3 million on May 27, 2021. In addition to the $11.3 million of cash proceeds, Zedcor will receive a bonus payment of 35% for each dollar of EBITDA above an annual threshold on the first, second and third anniversary dates of the closing of the transaction; $25,000 per month for up to 36 months in exchange for the use of the Zedcor brand; and an additional $25,000 per month for the first 20 months for use of certain Zedcor facilities. The transaction is subject to approval by the TSX Venture Exchange, approval of a majority of the Company’s disinterested shareholders and approval of the voting members of the Company’s Board of Directors. The Company’s Board of Directors have unanimously approved the Transaction. The Company’s Board of Directors formed a special committee of independent directors to evaluate the transaction. The Transaction is expected to close on or around June 30, 2021. The cash proceeds from the sale will be used to reduce high interest indebtedness. The Special Committee appointed Paradigm Capital Inc. to provide an opinion as to the fairness of the consideration being offered under the Transaction from a financial point of view. Zedcor appointed James Leganchuk as Chief Operating Officer on July 1, 2021. Zedcor reported that the cash proceeds from the transaction will be applied against Zedcor’s indebtedness to Maynbridge. Maynbridge Capital Inc. completed the acquisition of Rental Segment assets of Zedcor from Zedcor Inc. (TSXV:ZDC) on June 30, 2021.