TORONTO, Jan. 16, 2017 /CNW/ - Apollo Beauty Corp. ("ABC") announces that on January 3, 2017, it acquired 11,694,198 Class B shares (the "Shares") of Acasta Enterprises Inc. ("Acasta"). The Shares were issued to ABC at a value of $10.00 per Share for an aggregate value of $116,941,980 as part of the purchase price for the sale of certain of the assets of Apollo Health and Beauty Care Partnership and Apollo Laboratories Inc. to Acasta (the "Transaction"), pursuant to an asset purchase agreement dated November 10, 2016 between, among others, ABC and Acasta (the "Purchase Agreement"), as more particularly described in the Purchase Agreement which is available on SEDAR under Acasta's profile at www.sedar.com.
As a result of the Transaction, ABC owns, directly or indirectly, or exercises control or direction over, 11,694,198 Shares, which represents an aggregate of approximately 12.62% of the issued and outstanding Class B shares of Acasta on January 3, 2017, immediately following closing of the Transaction. ABC did not hold any Class B shares of Acasta prior to the completion of the Transaction. The Class B shares of Acasta are listed and trade on the Toronto Stock Exchange.
The Shares are currently being held by ABC for investment purposes. ABC may, from time to time, and subject to the terms of lock-up, escrow and registration rights agreements entered into with Acasta, acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Acasta.
The head office of Acasta is located at 150 Bloor Street West, Suite 310, Toronto, ON M5S 2X9. An early warning report containing additional information will be filed under Acasta's SEDAR profile at www.sedar.com.
SOURCE Apollo Beauty
For further information: Further information or a copy of the early warning report may be obtained by contacting: Richard Wachsberg, Tel: (416) 758 - 3706; Apollo Beauty Corp., 1 Apollo Place, Toronto, Ontario, M3J 0H2