Hi everyone,
ALE lost .50 $ whit a low volume of 14,000 shares !! Just after this news: any comments ?
Former site of Upper Canada Brewing to be sold
Sleeman Breweries Ltd ALE
Shares issued 13,284,680 Jul 31 close $8.40
Tue 4 Aug 98 News Release
Mr. John Sleeman reports
Sleeman Breweries has reached a binding agreement to sell the former site
of The Upper Canada Brewing Company at 2 and 20 Atlantic Avenue in Toronto
for $3.5-million.
The sale of the property, which was facilitated by CB Commercial, will
close in October 1998. Proceeds will be used to reduce long-term debt and
interest costs. Sleeman also expects to finalize a sale of Upper Canada's
brewing equipment shortly.
Sleeman regards the property sale and the transition of Upper Canada's
production into Sleeman's expanded Guelph plant as the completion of the
Upper Canada integration. The process has proceeded smoothly and yielded
even greater benefits than first anticipated at the time of the
acquisition.
The production transition, which began July 29, will be completed by late
August. Sleeman continues to brew Upper Canada's distinctive products,
(Upper Canada Lager, Maple Brown Ale, Dark Ale, Light Lager, Wheat Lager,
Rebellion Lager and Point Nine), with the same quality, ingredients and
methods with which the Upper Canada brands have traditionally been brewed,
ensuring the continued loyalty to a product that has been enjoyed by
consumers for more than 13 years.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
