Business
~Montfort Capital to Acquire Minority Interest in Langhaus Financial Partners
~Montfort Capital to Acquire Minority Interest in Langhaus Financial Partners Canada Ne...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n ~Montfort Capital to Acquire Minority Interest in Langhaus Financial Partners\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ~Acquisition will result in ownership of 100% of Langhaus~\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 19, 2024\n \n \n /CNW/ -\n \n Montfort Capital Corp. (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT) (OTCQB: MONTF), a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers, is pleased to announce it has entered into definitive agreements to acquire (the \"\n \n Acquisition\n \n \") the remaining 21.98% issued and outstanding share capital (the \"\n \n Target Shares\n \n \") of Langhaus Financial Partners Inc. (\"\n \n Langhaus\n \n \"). Langhaus achieved its financial target for assets under management (\"\n \n AUM\n \n \"), which has allowed\n \n Montfort\n \n to exercise its call option to acquire the Target Shares under the Langhaus shareholders' agreement, as amended and restated on\n \n October 2, 2022\n \n (the \"\n \n SHA\n \n \").\n \n \n \n \n \n \n \n \n \n \n Details of the Acquisition\n \n \n \n In accordance with the SHA between\n \n Montfort\n \n , Langhaus, Godsoe Financial Capital Limited (\"\n \n GFC\n \n \") and\n \n John Harris\n \n (\"\n \n Harris\n \n \"),\n \n Montfort\n \n has the option to exercise a call notice to acquire the Target Shares upon Langhaus' assets under management reaching\n \n $120,000,000\n \n (the \"\n \n AuM Target\n \n \").\n \n Montfort\n \n is pleased to announce that Langhaus has achieved the AuM Target and it has decided to exercise its call option to acquire 1,598 Target Shares from GFC and 1,333 Target Shares from Harris at a deemed price of\n \n $900.09\n \n per Target Share. As consideration for the acquisition of the Target Shares and in accordance with the terms of the SHA,\n \n Montfort\n \n will issue a total of 5,276,326 common shares (the \"\n \n Consideration Shares\n \n \") at a deemed price of\n \n $0.50\n \n per Considerati...