Midland Baring Holdings Inc., 1400 Begin Street, Montreal, Quebec, H4R 1X1, today announced that it has today acquired 7,478,730 common shares of Avalon Works Corp. (TSX-V:AWB), representing approximately 38% of the issued and outstanding common shares of the Corporation.
Immediately after the close of the transaction, the Offeror holds 7,478,730 common shares of the Corporation, representing approximately 38% of the issued and outstanding common shares of the Corporation.
The acquisition was effected through a private agreement pursuant to the terms of which the Offeror agreed to purchase 7,478,730 common shares of the Corporation from 2104280 Ontario Inc. at a price of $0.0032 per share payable in cash.
The Offeror acquired the common shares of the Corporation for investment purposes. The Offeror may acquire or sell securities of the Corporation at any time and from time to time in the open market or otherwise. -- www.cnxmarketlink.com
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