Tellza Communications Inc. (TSX:TEL) acquired 33% stake in Rightway Holdings LLC from two shareholders for $5.5 million on April 11, 2016. As part of transaction, Tellza will pay $3.5 million to the vendors, together with interest at a rate of 1.8% per annum, pursuant to a five year promissory note and $2 million as a direct investment in working capital to enable Rightway to expand its marketing and business development initiatives. Also, Tellza's ownership interest in Rightway shall be reduced to 10% if Tellza fails to deliver in full the initial $2 million of purchase price within 120 days of closing and will increase to 43% if it fails to earn a cumulative $15.2 Million in EBITDA between 2016 to 2018. For the year ended on December 31, 2015, Rightway reported EBITDA of $1.2 million.

Tellza Communications Inc. (TSX:TEL) completed the acquisition of 33% stake in Rightway Holdings LLC from two shareholders on April 11, 2016.