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Mosaic Mapping Corporation Agrees to the Acquisition of Certain Assets and Liabilities of Houston Based TerraPoint(R), LLC.
- Article from:
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Canadian Corporate News
- Article date:
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October 15, 2003
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Copyright informationCOPYRIGHT 2003 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OTTAWA, ONTARIO, Oct 15, 2003 (CCNMatthews via COMTEX)
Mosaic Mapping Corporation (TSXV: DEM) ("Mosaic") is pleased to announce that it has entered into an agreement to purchase essentially all of the physical assets and intellectual property related to the airborne LiDAR business operated by TerraPoint(R), LLC ("TerraPoint(R)"), a Delaware limited liability company. Concurrent with the Acquisition, Mosaic will also assume selected ongoing contracts of TerraPoint(R). In consideration of the Assets and the Contracts, Mosaic has agreed to issue 4,500,000 common shares and a promissory note in the amount of USD$750,000 along with cash of USD$250,000. The note will be ...