BULLETIN V2026-1735
ELEVATE SERVICE GROUP INC. ("SERV")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Shares for Services
BULLETIN DATE: May 20, 2026
TSX Venture Tier 1 Company
Property-Asset or Share Purchase Agreement
TSX Venture Exchange (the "Exchange") has accepted for filing documentation with respect to the arm's length acquisition of Taylor Freezers Inc. (the "Target"), a service provider and distributor of specialized foodservice equipment based in Ontario, pursuant to a share purchase agreement (the "Agreement") between Elevate Service Group Inc. (the "Company") and an arm's length party (the "Vendor").
Pursuant to the terms of the Agreement, the Company satisfied the aggregate purchase price by: (i) paying $300,000 in cash; (ii) issuing 50,000 common shares of the Company to the Vendor on closing; and (iii) issuing an aggregate of $1.8 million unsecured, non-convertible promissory notes with a three-year term (the "Promissory Notes"). The Promissory Notes are non-interest bearing and payable through amortization payments of $300,000 every six months until expiry. In addition, the Company committed to making a working capital investment into the Target of approximately $4 million at closing.
Further, the Company issued 75,000 shares of the Company on closing to settle an outstanding debt of the Target to an arm's length service provider.
For further details, please refer to the Company's news releases dated May 1, 2026 and May 7, 2026.
Shares for Services
Further to the above and concurrent with the aforementioned acquisition, the Exchange has accepted for filing the Company's proposal to issue an aggregate of 240,000 common shares to arm's length parties as an inducement to assume the roles of an employee of the Company.
Securities Issued: 240,000 Listed Shares
For further details, please refer to the Company's news release dated May 7, 2026.
_______________________________________
|
|
