Acquisition of 3 buildings in Montreal and property management contracts
Montreal, Friday, July 27th, 2018 – (CSE:DLMA) The Delma Group Inc. (“Delma” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Delma Real Estate Corporation has closed a transaction on July 261h, 2018 with Lupa Real Estate Corporation Inc. of its operating subsidiaries (namely: 9203-5849 Quebec Inc. and 9307- 9077 Quebec Inc.) (the “Acquired Companies”). Delma purchased all of the issued and outstanding shares of the Acquired Companies and debts of the said Acquired Companies for a net price of $1,597,794 paid by the issuance of Delma common shares, at a price of $6.00 per share. (the “Transaction”).
Another Delma wholly owned subsidiary; Delma Management Services Corp. (“DMSC”) signed a properry management contract to manage the new acquisition, which adds to DMSC’s portfolio of in-house and third party managed contracts.
The new acquisitions by Delma since its listing on the CSE on March 23’d,2078 increases the Company’s total assets to over $143.5 million.
The new Acquisitions also increases the assets managed by DMSC and increases its management revenues.
Several more acquisitions are planned and will be forthcoming.
Delma Group’s President, Mr. François Castonguay stated that; “This is another good acquisition for the Company and another step in its constant growth, in line with Delma Group’s global plan of value-added acquisitions with diversification of assets”. Mr. Castonguay is a veteran corporate leader who until recently was CEO and President of Uniprix, a leading Canadian pharmaceutical and retail company in Canada.
About the Delma Group:
The DELMA Group is a Montreal-based publicly listed multinational company with an Institutional Grade Board of Directors, an international Advisory Board, and 3 decades of experience between its founders in owning and operating real estate assets in Canada, the U.S. and Europe. Delma’s founders, senior executives, and Board members are fully invested in the Company.
The Delma Group is a publicly-traded company on the Canadian Security Exchange (CSE) since late March 2018, and puts forward an agile and efficient investment platform aimed at optimizing yield while mitigating risks through its various subsidiaries: DELMA Real Estate Corporation (DREC), DELMA Hospitality Corporation (HDC) and DELMA Management Services Corporation (DMSC).
For more information, please visit www.delma.ca and www.sedar.ca. DLMA.CN
Source: The Delma Group Inc. For more Information please contact:
Vid Wadhwani VP- Investor Relations Tel: +l-604-729-7077 email@example.com
David Carkeek VP- Media Relations Tel: +1-604-760-9212 firstname.lastname@example.org