Business
Kadestone Enters into Definitive Agreement to Acquire BC-Based Real Estate Development Company
Vancouver, British Columbia--(Newsfile Corp. - September 2, 2025) - Kadestone Capital Corp. (TSXV...
About this update from Kadestone Capital Corp.
[{"type":"text","content":"Kadestone Enters into Definitive Agreement to Acquire BC-Based Real Estate Development CompanyVancouver, British Columbia--(Newsfile Corp. - September 2, 2025) - Kadestone Capital Corp. (TSXV: KDSX) (OTCQB: KDCCF) (\"Kadestone\" or the \"Company\") is pleased to announce that it has entered into a purchase agreement (the \"Purchase Agreement\") with Attollo Management Inc. (\"Attollo\"), a private development firm led by renowned real estate executive David Negrin. Pursuant to the terms of the Purchase Agreement, Kadestone will acquire a subsidiary of Attollo (the \"Acquisition\") that will own certain rights and interests in select real estate development projects for total consideration of C$12 million, to be satisfied by the issuance of 12,000,000 common shares of Kadestone (the \"Consideration Shares\") at a price of C$1.00 per Consideration Share which will be subject to an escrow agreement and a time-based release schedule. The closing of the Acquisition (the \"Closing\") is expected to occur by December 31, 2025 and by no later than June 30, 2026 (the \"Closing Date\"), subject to the satisfaction of customary closing conditions and the receipt of all required regulatory, TSX Venture Exchange (the \"TSX-V\") and shareholder approvals. The Closing is conditional on, among other things, the parties entering into a binding definitive agreement, prior to the Closing Date, for one of two residential and mixed used real estate development projects (or both) located in the Greater Vancouver area that Attollo is in the process of negotiating. There can be no assurance that the Acquisition will be completed on the terms described herein or at all, including whether a binding definitive agreement will be entered into for one or both of the aforementioned projects. Once issued, all of the Consideration Shares will be subject to a statutory hold period expiring four months and one day following the date of issuance. The Acquisition represents a significant milestone for Kadestone as it enhances the Company's pipeline of opportunities in the British Columbia real estate market with high-potential development assets strategically located in growth markets across British Columbia. It also builds on Kadestone's vision to develop innovative, community-focused real estate projects.As part of the Acquisition, David Negrin will continue...