GC-Global Capital Corp. Enters Into Joint Venture Arrangement
20 Juli 2011 - 3:30PM
Marketwired
GC-Global Capital Corp. (TSX VENTURE: GDE.A) ("Global Capital") is
pleased to announce it has entered into a joint venture called TGC
Acquisition Corp. ("TGC") with Rossmore and Partners Investments
Corp. ("Rossmore"), under which the parties have completed the
acquisition of DDR Landscaping Contractors Ltd. ("DDR") for a
purchase price of $2,500,000. Global Capital and Rossmore will have
an equal interest in the joint venture. Global Capital has provided
a $1,000,000 non-interest bearing demand promissory note to the
joint venture company to finance the acquisition. Rossmore provided
an additional $500,000 and the sellers have provided a $1,000,000
Vendor Take Back for the balance of the purchase price. The
promissory note to TGC is guaranteed by DDR.
Based in Oakville, DDR is a commercial site contractor in the
Ontario region. It has been a leader in the industry for the past
15 years. Employee structural changes at DDR will be minimal. All
of the employees will continue to work at DDR and the previous
owners will remain an integral part during the transitional
period.
Global Capital's joint venture partner, Rossmore, is headed up
its principal, Susan Tanenbaum who has more than 20 years of senior
management experience with industrial companies and has worked
throughout the United States and Canada.
About Global Capital
Global Capital is a merchant bank, which provides bridge loan
services, to companies across many industries such as oil &
gas, mining, real estate, manufacturing, retail, financial
services, technology and biotechnology.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: GC-Global Capital Corp Jason G. Ewart C.E.O. (416)
488-7760 www.gcglobalcapital.ca
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