CANADA: Afton and Pizza Delight to merge
Burlington, Ontario-based Afton Food Group and the Pizza Delight Corp have entered into an agreement to merge, pursuant to which Pizza Delight shareholders will be issued approximately 28.5 million Afton shares. The merger will result in the current shareholders of Moncton, New Brunswick-based Pizza Delight becoming the controlling shareholders of Afton holding approximately 63% of the fully diluted shares which is equivalent to 72.5% of the basic, issued and outstanding shares, at closing. Bernard Imbeault, CEO of Pizza Delight, will serve as the CEO and president of the merged companies following closing.
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