BlackPines Capital Partners agreed to acquire a 70% stake in 9327-7358 Quebec Inc. from ESE Entertainment Inc. (TSXV:ESE) for CAD 9.1 million on August 5, 2023. Consideration is subject to a 15% holdback for certain indemnification obligations of the Company under the SPA. The holdback will be released to the Company in two equal tranches on each of the 6-month and 12-month anniversaries of the closing, respectively, subject to any outstanding or pending claims for indemnification. Completion of the Transaction remains subject to the approval of the Exchange. Kepler Acquisition Group acted as financial advisor to ESE Entertainment and a fee of 2% of the transaction value. Iain Mant, Katie Peardon and Shanlee von Vegesack of Fasken Martineau DuMoulin LLP acted as legal advisor to BlackPines Capital Partners.

BlackPines Capital Partners completed the acquisition of a 70% stake in 9327-7358 Quebec Inc. from ESE Entertainment Inc. (TSXV:ESE) on August 14, 2023.