December 28, 2018 / TheNewswire / Kelowna, British Columbia: Decisive Dividend Corporation (TSX-V: DE) (the "Corporation"), a growth-oriented acquisition company, is pleased to announce that it has settled the remaining contingent consideration in relation to its previously announced acquisition (the "Slimline Acquisition") of Slimline Manufacturing Ltd. ("Slimline").
The Slimline Acquisition closed on May 30, 2018 (the "Closing Date") and included contingent consideration in the form of an earn-out payment, based upon the financial performance of Slimline for the twelve-month period ended July 31, 2018. On the Closing Date, the Corporation accrued $1.1 million with respect to the earn-out amount. In accordance with the terms of the share purchase agreement, the earn-out amount was settled at an amount of $690,524, and was satisfied by the cash payment of $591,879 and the issuance of 25,424 common shares of the Corporation (the "Shares") to the vendors. The Shares were issued at a value of $3.88 per share, which was the volume weighted average trading price for the ten-trading day period ended May 29, 2018. The Shares, along with the 257,733 common shares of the Corporation that had been issued to the vendors on the Closing Date, will be held in escrow and released in accordance with the terms of the share escrow agreement dated May 30, 2018.
About Decisive Dividend Corporation
Decisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector. The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rick Torriero, Chief Financial Officer
#201, 1674 Bertram Street Kelowna, BC V1Y 9G4 Telephone: (250) 870-9146
This press release contains forward-looking statements. These statements relate to the monthly dividend policy adopted by the directors of the Corporation. The declaration and payment of dividends are subject to solvency tests under applicable corporate law. There can be no assurance that the directors of the Corporation will declare any dividends in the future or, if dividends are declared, there can be no assurance as to the frequency or amount of such dividends. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.