Alaris Equity Partners Income Trust Announces Receipt of Complaint

About this update from Alaris Equity Partners Income Trust Trust Units Reg S 3c7

[{"type":"text","content":"Alaris-Sandbox\n \n \n \n Alaris Equity Partners Income Trust Announces Receipt of Complaint\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n CALGARY, AB, Sept. 21, 2020\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Sept. 21, 2020\n \n /CNW/ - Alaris Equity Partners Income Trust (the \"\n \n Trust\n \n \" or \"\n \n Alaris\n \n \") (TSX: AD.UN) announces that the purchasers of the assets of Sandbox Acquisitions, LLC and Sandbox Advertising Inc. (collectively, \"\n \n Sandbox\n \n \") have filed a complaint in the Court of Chancery of the\n \n State of Delaware\n \n against its subsidiary Alaris Equity Partners Inc. (formerly Alaris Royalty Corp.) (the \"\n \n Company\n \n \") concerning disputes arising out of the sale of the Sandbox assets (the \"\n \n Sandbox Sale\n \n \").  The Sandbox Sale closed on\n \n February 28\n \n , 2020.  The Complaint lodges claims against the Company and certain of its representatives for fraud and breach of some of the representations and warranties of the Sandbox Sale purchase agreement and alleges damages of approximately\n \n US$37.2 million\n \n . The Company believes the claims against the Company and its representative are without merit and intends to vigorously defend the case. The Company will respond to the Complaint in due course and is actively evaluating the possibility of lodging counterclaims in the matter.\n \n \n \n \n \n \n \n \n \n \n ABOUT ALARIS:\n \n \n \n Alaris provides alternative financing to private companies (\"\n \n Partners\n \n \") in exchange for distributions with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders.  Distributions from the Partners are adjusted each year based on the percentage change of a \"top line\" financial performance measure such as gross margin and same-store sales and rank in priority to the owners' common equity position.\n \n \n \n FORWARD LOOKING STATEMENTS\n \n \n \n \n This news release contains forward-looking statements as defined under applicable securities laws, such a...

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