Electronics Production |
Adeptron enters share purchase agreement with R.H. Global Technologies
Adeptron reports that it has entered a share purchase agreement with Israel based R.H. Global Technologies in respect of a the previously announced proposed private placement transaction of $6 million worth of common shares of Adeptron.
Immediately following completion of the Transaction, RGT will hold approximately 62% of the issued and outstanding shares of Adeptron, and is entitled to nominate four of the increased board of nine directors of Adeptron.
The proceeds of the Transaction will be used to repay the Company's outstanding $5 million subordinated debenture. The Transaction is subject to receipt of all regulatory approvals, including shareholder approval.
