Private investment firm Difference Capital Financial Inc. announced today that it has agreed to a US$4.8 million acquisition of Blue Ant Media Inc.'s 3.9 million common shares. The shares were previously controlled by Michael Wekerle's private company. Wekerle is the executive chairman of Difference Capital Financial.
The transaction is considered to be a "related party transaction" under the Multilateral Instrument. Because of this categorization, the deal's formal evaluation and claiming of minority shareholder approval requirements are not necessary.
Closing of the deal between the two companies is still subject to approval from TSX Venture Exchange.
Blue Ant Media Inc. is a content provider for media businesses. Their services include lifestyle, travel, music, documentary, and entertainment content across all screens.
Difference Capital Financial is headquartered in Toronto, Canada. The company said that it focused on creating shareholders by making strategic investments the technology, media, and healthcare industries. The also seek opportunities in undervalued financial assets, said the company.
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