A third party signed an agreement to acquire Woodbine Mall from Jerusalem Economy Ltd. (TASE:ECJM) for approximately CAD 100 million on March 31, 2016. From the consideration, CAD 0.5 million was already transferred to the the buyer. Upon completion, the buyer will pay the balance of the consideration, subject to price changes, if applicable. The balance consideration is subject to milestones. As of June 5, 2016, the balance of the consideration, amounting to about CAD 48.3 million has been paid, following the completion of the pre-conditions. Under the agreement, Jerusalem Economy committed to compensate the buyer for whatever damage that may be caused related with environment quality issues, and pay for that reason, about CAD 0.475 million. Completion is expected to occur during April, 2016. A third party cancelled the acquisition of Woodbine Mall from Jerusalem Economy Ltd. (TASE:ECJM) on March 31, 2017.