Confirmation of the deal ... note the last sentence (something new ... one year)
Dexton property disposition
Dexton Technologies Corp DXT
Shares issued 6,950,000 Aug 4 close $1.05
Thu 5 Aug 99 Property Agreement
The Vancouver Stock Exchange has accepted for filing a share-purchase agreement dated July 9, 1999, between Dexton Technologies Corp. (the company), Able Auctions (1991) Ltd., a wholly owned subsidiary of the company, and Ableauctions.com Inc. (formerly JB Financial Services Inc., Douglas McLeod has greater than 10 per cent of the issued capital), whereby the company has agreed to sell all of the issued and outstanding shares of Able Auctions to Ableauctions.com. Able Auctions is engaged in the business
of selling used office equipment and organizing and holding auctions. In consideration of the purchase of the shares of Able Auctions, Ableauctions.com will: pay the company 1,541,000 in cash; and issue 1.5 million of its shares to the company.
Closing of this transaction is subject to the completion (anticipated to be on Aug. 10, 1999) of an equity financing in the purchaser to raise a minimum of $3-million (U.S.).
On closing, Ableauctions.com will retain the company to provide consulting services to Able for one year for a fee of $240,000 (U.S.).
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