TSXV symbol: GBV
SAINTE-JULIE, QC, March 31, 2015 /CNW Telbec/ - Groupe Bikini Village inc. (TSXV: GBV) ("Groupe Bikini Village" or the "Corporation") confirms today that it has sold substantially all of its assets to Boutique La Vie en Rose Inc. In consideration for this sale, the Corporation received gross proceeds of approximately $3,790,000.
About Groupe Bikini Village.
Groupe Bikini Village inc. was a leading swimwear retailer with a network of stores across Eastern Canada. In its inviting stores, Bikini Village helped 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 operated 52 stores and employed approximately 400 people; its securities trade on the TSX Venture Exchange under the stock symbol GBV.
About La Vie en Rose
La Vie en Rose is the leading Canadian specialty lingerie and swimwear retailer catering to women aged 25-45. Known as a bra specialist, La Vie en Rose also offers a range of lingerie, sleepwear, loungewear, as well as swimwear, beachwear and accessories. Acquired in 1996 by President and CEO François Roberge, the chain now counts nearly 180 boutiques nationwide, divided into three store concepts: La Vie en Rose, La Vie en Rose Aqua, and La Vie en Rose Outlet. Since the beginning of its international expansion in 2004, La Vie en Rose has opened more than 90 boutiques outside Canada, in 17 countries. Headquartered in Montreal, La Vie en Rose is a true Canadian success story and continues its international growth.
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]