EDMONTON, Jan. 23 /CNW/ - Imperial Equities Inc. ("Imperial")
(TSX-Venture:IEI) today announced it has recently entered into an arm's length
letter agreement with each of Cameron Distributors Canada Inc. ("CDCI"), DSP
Advantage Ltd. ("DSP") and Cameron Development Corp. ("CDC") whereby Imperial
will acquire outstanding shareholders loans and all of the issued and
outstanding shares of CDCI in order to acquire the entire operations of the
business known as "Cameron Distributors Canada" from DSP and CDC (the
"Transaction"). In consideration for the Transaction, Imperial will pay
$899,700, which amount shall be issued by way of the issuance of 599,800
common shares of Imperial at a price of $1.50 per common share. CDCI is a
start up company involved in the distribution of pharmaceuticals and medical
devices.
Sine Chadi, President and CEO of Imperial Equities said "the completion
of the Transaction is subject to a number of conditions precedent including
satisfactory due diligence and the approval of the board of directors of
Imperial and the TSX Venture Exchange".
About Imperial Equities Inc.:
Imperial Equities Inc. is based in Edmonton, Alberta. The company is
dedicated to aggressive growth through the acquisition, development and re-
development of commercial and industrial real estate properties in its
targeted Edmonton and Alberta markets. More information about Imperial
Equities is available by calling (780) 424-7227 or e-mailing the company at
askus(at)imperialequities.com.
The Toronto Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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