TSXV symbol: GBV
SAINTE-JULIE, QC, March 24, 2015 /CNW Telbec/ - Groupe Bikini Village inc. (TSXV: GBV) ("Groupe Bikini Village" or the "Corporation") announces that it has accepted an offer from Boutique La Vie en Rose Inc. to purchase substantially all of GBV's assets. This transaction is expected to close at the end of March. It is subject to the issuance of an approval and vesting order by the Superior Court. The net proceeds of the sale will be distributed to the Corporation's creditors.
About Groupe Bikini Village
Groupe Bikini Village inc. is a leading swimwear retailer with a network of stores across Eastern Canada. In its inviting stores, Bikini Village helps its customers choose from among Canada's widest selection of swimwear, beachwear, travel clothing and beach accessories. Headquartered in Sainte-Julie, Quebec, Groupe Bikini Village operates 52 stores and employs approximately 400 people; its securities trade on the TSX Venture Exchange under the stock symbol GBV. For more information about Groupe Bikini Village, please visit our website at www.bikinivillage.com.
Disclaimer regarding forward-looking statements
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management when they are made, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Investors are cautioned not to place undue reliance on forward-looking statements. The Corporation disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or other development unless required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as these terms are defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE GROUPE BIKINI VILLAGE INC.
For further information: Jocelyn Dumas, Executive Chairman, (450) 449-1310 ext. 4338, [email protected]