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Bellair Ventures Inc. Completes Acquisition of Urban Mechanical Contracting Ltd.
Bellair Ventures Inc. (TSX-V: BVI) (“Bellair”) completed the acquisition of all of the issued and outstanding shares of Urban Mechanical Contracting Ltd. (“Urban”) from The Edward J. Winter Family Trust (the “Vendor”) for an aggregate purchase price of $10 million, satisfied by the issuance of 9,597,125 common shares of Bellair at an issue price of $0.55 per share, the payment of $500,000 in cash and the assignment to the Vendor by Bellair of a $500,000 term loan previously advanced by Bellair to Urban. Up to an additional 3,636,363 common shares of Bellair will be issued in satisfaction of the balance of the purchase price.
Wildeboer Dellelce LLP represented Bellair with a team that included Derek Sigel and Darryl Holyday.
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