KGIC Inc. (TSXV:LRN) sold KIM OKRAN International Studies Center, Inc. for CAD 0.14 million on November 6, 2015. Under the terms of the transaction, the buyer made a rebate of CAD 0.014 million representing 1% of 2016 gross revenue, 1% of 2017 gross revenue and 1% of 2018 gross revenue of Kim Okran to be received within 2 months after each fiscal year and CAD 0.13 million owed to KGIC Inc. was forgiven on closing. As of September 30, 2015, KIM OKRAN International Studies Center, Inc. had total assets of CAD 0.28 million. As a result of the transaction, KGIC Inc. completely exited from ownership of agency operations.


KGIC Inc. (TSXV:LRN) completed the sale of KIM OKRAN International Studies Center, Inc. on November 6, 2015.