Acasta Enterprises Announces Issuance of Shares to ECN Capital and Director Appointment

Apr 05, 2018 05:00 pm

Acasta Enterprises Inc. (TSX: AEF) (“Acasta” or the “Company”) announced today that 500,000 Class B shares in the capital of Acasta (the “ECN Shares”) were issued to a wholly-owned subsidiary of ECN Capital Corp. (“ECN”) at a deemed issuance price of $2.01 per share. As previously announced, the ECN Shares were issued in satisfaction of the remaining purchase price relating to Acasta’s acquisition of ECN’s commercial aviation business. The ECN Shares are subject to a four-month hold period, expiring August 6, 2018.

In addition, Acasta today announced the appointment of Ian Kidson, the Company’s Interim Chief Executive Officer, to the Board of Directors of the Company.

Acasta Enterprises Inc.
Ian Kidson, 1-647-725-6707
Interim Chief Executive Officer