The Financial Post reports in its Friday edition that an investment Dundee made more than four years back appears poised to go public by way of a reverse takeover with a Gulfstream Acquisition 1 Corp., a capital pool company listed on the TSX Venture Exchange.
The Post's Barry Critchley writes that this week Gulfstream announced it had signed a nonbinding letter of intent with Blue Goose Capital. Dundee acquired a majority interest in Blue Goose in 2011, soon after creating Dundee Agricultural. Plans call for that intent to be turned into a definitive agreement.
For Gulfstream the proposed acquisition will be its qualifying transaction given that it is buying Blue Goose. Once the merger is completed, Blue Goose will become a public company and Dundee will have monetized one of its investments.
Blue Goose, with net assets of $86.13-million, is focused "on the production, distribution and sale of organic and natural beef, chicken and fish." Dundee has an 87-per-cent interest in Blue Goose.
For the qualifying transaction to proceed Blue Goose has to raise $20-million, the two sides have to complete their due diligence, Blue Goose shareholders have to approve the deal and the TSX Venture has to sign off.
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