Business
Montfort Capital Announces Agreements to Sell Pivot Business, Repurchase Shares
Montfort Capital Announces Agreements to Sell Pivot Business, Repurchase Shares Canada ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\n Montfort Capital Announces Agreements to Sell Pivot Business, Repurchase Shares\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\n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 5, 2025\n \n\n /CNW/ -\n \n Montfort Capital Corp. (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT), today announced it has entered into an agreement dated\n \n August 1, 2025\n \n (the \"\n \n Pivot SPA\n \n \") to sell Pivot Financial I Limited Partnership, Pivot Financial Services Inc. and 2862454 Ontario Inc. (\"collectively, the \"\n \n Pivot Group\n \n \") to Pivot Endgame Corp. (the \"\n \n Purchaser\n \n \"), an affiliate of an arm's length, third-party investment fund, for a cash purchase price of\n \n $2,278,541\n \n and the tendering of the Montfort IB Note (as defined below) back to the Company (the \"\n \n Pivot Sale\n \n \"), subject to customary closing conditions, lender consents, closing price adjustments and post closing working capital adjustments. The Company expects the Pivot Sale to close on\n \n September 12, 2025\n \n , subject to the approval of the TSX Venture Exchange (\"\n \n TSXV\n \n \"). The Company does not expect the Pivot Sale to require shareholder approval.\n \n\n\n\n\n\n\n\n\n\n\n Repurchase of Shares Held by\n \n Dan Flaro\n \n\n\n\n\n As condition of the Pivot Sale,\n \n Montfort\n \n has also entered into a share purchase agreement (the \"\n \n Flaro SPA\n \n \") with\n \n Dan Flaro\n \n , president of the Pivot Group, to acquire and cancel 1,024,299 Series A, Class A Preferred Shares and 2,397,368 common shares in the capital of the Company (the \"\n \n Repurchased Shares\n \n \") for aggregate consideration of\n \n $584,070.54\n \n (the \"\n \n Flaro Purchase Price\n \n \"), subject to adjustment if market value of the Repurchased Shares is less than the Flaro Purchase Price on closing of the Flaro SPA. The Flaro Purchase Price will be paid by\n \n Montfort\n \n on closing of the Flaro SPA by issuing a non-interest bearing promissory note (the \"\n \n Montfort IB Note\n \n \"), whereby the principal thereof will equal the ...