The Skor Food Group Inc. (formerly “AMT Fine Foods Ltd.”) announced that it has acquired all the issued and outstanding Class B Common Shares of Derry Foods Limited (“Derry”).
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At a special meeting of shareholders held on Tuesday, 11 June 2002, Skor Food shareholders approved, amongst other things, the issuance of 100 Units of the Corporation in exchange for the Class B Common Shares of Derry, each Unit being comprised of 118,300 post-consolidated common shares and 59,150 Series A Common Share Purchase Warrants.
Each Series A Share Purchase Warrant entitles the holder to acquire one post-consolidated common share at a price of US$0.30 per share for a period of five years until 26 June, 2007.
Derry is a full service food distribution company located in Rexdale, Ontario that services clients throughout Ontario. The clients serviced by Derry include multi location food retailers and food service accounts including cafeterias, restaurants, banquet halls, supermarket chains, concession operators, day care facilities, hospitals, correctional facilities and other government institutions. Derry sells more than 5,000 items including frozen foods, refrigerated products and dry goods and is able to service all clients on a ‘one stop shop’ basis.
In connection with this acquisition, the shareholders of the Corporation also approved the following matters:
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By GlobalData- Name change of the Corporation to its current form, The Skor Food Group Inc.;
- The consolidation of the Corporation’s existing common shares on a 10 for 1 basis;
- The election of a new board of directors.
The new directors of the corporation are Messrs. Vince Capobianco, Steve Corvese, G. Michael Newman and Robert Macdonald. The corporation also announced the appointment of Capobianco as President and Corvese as Vice-President.
After giving effect to the issuance of the Units, Skor has 13,443,170 post-consolidated common shares issued and outstanding. In addition, Skor has 5,915,000 Series A Common Share Purchase Warrants issued and outstanding.
