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BRIEF-Canadream Corpo enters into arrangement agreement to be taken private by Apollo Tourism & Leisure Ltd.

Published 09/05/2017, 02:26 am
Updated 09/05/2017, 02:30 am
© Reuters.  BRIEF-Canadream Corpo enters into arrangement agreement to be taken private by Apollo Tourism & Leisure Ltd.
CDN
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May 8 (Reuters) - Canadream Corp CDN.V

* Canadream corporation enters into arrangement agreement to be taken private by Apollo Tourism & Leisure Ltd.

* Appointed a special independent committee of company's board of directors

* Special independent committee to review and evaluate arrangement

* Based on recommendation of special committee, board has unanimously approved arrangement agreement

* Consideration paid under arrangement is in cash

* Under deal terms agreement, purchaser agreed to purchase all other outstanding canadream shares for consideration of $1.85 per share

* Upon completion of arrangement, it is expected that canadream shares will be de-listed from TSX venture exchange

* Purchaser to buy canadream shares controlled by Blaine Nicholson and CEO Brian Gronberg for consideration of $1.68 per share

* Directors holding about 39% of outstanding co's shares entered into support deals under which each agreed to vote shares in favour of arrangement Source text for Eikon: ID:nCCN9hxjNj Further company coverage: CDN.V

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