ACL International Ltd. Initial Distribution of Sale Proceeds
Calgary, Alberta (FSCwire) - ACL International Ltd.(NEX: ACL.H) (the Corporation) announces that it has received payment for the balance of the purchase price payable for the sale of all of the shares of Anthony Clark Insurance Brokers Ltd. held by the Corporation from Canada Brokerlink Inc. (Brokerlink), originally announced on May 1, 2014 (the Sale Transaction). The aggregate purchase price was approximately $13,000,000 and on July 2, 2014, the Corporation received $2,008,240 being the balance of the purchase price.
Any further information relating to potential plans for the Corporation will be provided in subsequent press releases as such information becomes available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information please contact:
ACL International Ltd.
Mr. Mahesh Bhatia, Vice President and CFO
Telephone: (403) 410-1807
Email: Mahesh.bhatia@acinternational.ca
Except for the historical information contained herein, this press release contains statements that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Corporation’s ability to close the proposed transaction. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation and other risk factors identified in the Corporation’s public filings under “Risk Factors.” The Corporation undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release.
On behalf of
ACL International Ltd.
“Mahesh Bhatia”
Mahesh Bhatia, CFO
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/acl07282014.pdfSource: ACL International Ltd. (NEX:ACL.H) www.acinternational.ca
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