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Limestone completes acquisition of Ebbtide


IBI Premium Content, by Craig Ritchie2021-05-19T08:44:00
Canadian boat brand completes acquisition of US boatbuilder, including 145,000 sq ft plant and Aquasport, Boca Bay fibreglass fishing boat lines
Ontario, Canada-based Limestone Boat Company Ltd announced Tuesday the company has completed its acquisition of Tennessee, US-based boatbuilder Ebbtide Holdings LLC for a reported…
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Limestone Boats Acquires Ebbtide Holdings


Limestone Boats Acquires Ebbtide Holdings
Author:
May 19, 2021
Limestone Boats said it completed its acquisition of Ebbtide Holdings, the manufacturer of the Aquasport and Boat Bay brands, the company
The purchase includes $3.75 million in cash and $2.5 million of Limestone common shares on the Toronto Venture Exchange.
Limestone plans to expand the production and the model range of the Boca Bay and Aquasport brands (top).
In addition, the builder brokered a private placement investment of $14 million to fund the cash portion of the acquisition and to provide working capital.
The Ontario-based company assumes control of Ebbtide’s 145,000-square-foot facility in White Bluff, Tenn. Limestone had relocated its manufacturing there ....

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LL One Inc. Announces Closing of $3.23 Million Private Placement Offering by the Limestone Boat Company


Definitive Agreement ) between LLO, LBC and 2790889 Ontario Inc., a wholly-owned subsidiary of the Company (
Subco ), the parties will complete a three-cornered amalgamation (the
Qualifying Transaction ) pursuant to Policy 2.4 –
Capital Pool Companies (the
Policy ) of the TSX Venture Exchange (the
Exchange ). In accordance with the Definitive Agreement, LBC will amalgamate with Subco and, pursuant thereto, all of the issued and outstanding founder common shares of LBC and Class A common shares of LBC (collectively, the
LBC Shares ) will be cancelled and LLO will issue 50 common shares in the capital of the Company (the
LLO Shares ), issued at a deemed price of $0.16, in consideration of each such LBC Share so cancelled (the ....

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