Métis Infinity to Take Stake in Elevate Service Group Under Red Lake Acquisition Plan
Bitget2026/10/28 12:09- Elevate Service Group signed a nonbinding letter of intent to acquire 100% of Red Lake Plumbing & Heating for $1.3 million.
- Consideration comprises $650,000 cash at closing, $300,000 in common shares and a $350,000 promissory note.
- Seller Métis Infinity Investments will become a shareholder; the shares carry a three-year lockup, with one-third released annually.
- The three-year promissory note accrues interest at 2%, 3% and 4% in successive years, payable with principal at maturity.
- Closing is expected by year-end 2026, subject to definitive documentation and TSX Venture Exchange approval.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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