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Article: Stockhouse(R) Sells Media Assets; Signs $2,158,000 licensing contract and improves balance sheet.
- Article from:
- Marketwire Canada
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 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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TORONTO, ONTARIO, Nov 2, 2009 (Marketwire via COMTEX) -- Stockhouse Inc. (TSX VENTURE:SHC) today announced that it has signed and closed an asset purchase agreement to sell its media business assets and related trademarks to an investor group. Under the terms of the agreement Stockhouse will receive:
- Purchase price of $728,000
- A 5 year technology agreement with a value $2,158,000, to supply its financial software, tools and content to the media business
- 4.5 year sub lease agreement for office space with a value of $242,000
As a part of the purchase price, Stockhouse will transfer $400,000 of the 18% secured debentures to the ...