RDX Technologies Corporation (TSXV:RDX) entered into an asset purchase agreement to acquire M2 Renewables, Inc. (M2R) from SAIL Capital Partners LLC and others for $14 million in cash and debt on June 1, 2014. Under the terms of the agreement, consideration comprises of $1 million in cash, of which $0.7 million has been paid as of June 30, 2014; an unsecured promissory note in the amount of $2 million and an earnout amount in the form of a convertible note of up to $11 million based on M2 Renewables' microscreen sales over the next three years. The deal is expected to close on or before March 31, 2015.
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- RDX Technologies Corporation entered into an asset purchase agreement to acquire M2 Renewables, Inc. from SAIL Capital Partners LLC and others for $14 million.