00:05:43 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



EA Education Group Inc
Symbol EA
Shares Issued 159,065,868
Close 2015-05-15 C$ 0.22
Market Cap C$ 34,994,491
Recent Sedar Documents

EA enters conditional deal to acquire Duke for $500,000

2015-05-15 17:52 ET - News Release

Ms. Wen Xu reports

EA EDUCATION ANNOUNCES A CONDITIONAL SHARE PURCHASE AGREEMENT

EA Education Group Inc. has entered into a conditional share purchase agreement with Duke College Inc. At the closing and only when all the terms of the SPA are met, the company will acquire the entire issued share capital of Duke. The aggregate value of the transaction is $500,000 comprising a refundable deposit of $200,000 in cash and the closing payment of 1.5 million common shares of the company having an aggregate deemed value of $300,000 upon completion of the transaction. The SPA is an arm's-length transaction and was approved by the board of directors of each company and is not subject to shareholder approval. The transaction is required to be filed with the Canadian Securities Exchange. In addition, the company will have completed the due diligence of the assets acquired and expressed total satisfaction, as well as other customary closing conditions in this type of transaction. The parties to the offer have agreed to make all commercially reasonable efforts to ensure that the closing date can occur on or before June 15, 2015. However, since closing of the offer is subject to numerous conditions, including external factors to the parties, there is no assurance that this agreement will be completed.

About Duke College

Duke College is a Canadian private high school providing high-quality education to qualified students around the globe. Not only students can attend Duke's traditional school setting, but also they can have access to its unique programs through on-line technologies. Today, Duke students are dispersed in Canada, United States, South American, Latin America, Europe, Middle East, Africa and Asia.

Duke programs are based on the foundation of global practical knowledge transfer through in-class and distance-learning methodology to meet the needs of global students.

We seek Safe Harbor.

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