However, transfers between related parties are assumed not to be at arms length
Newco"), whereby through a proposed arms length
business combination (the "Business Combination") Direct IT Canada Inc.
Since Albert Iannantuono is a major shareholder, officer and director of both Andromeda and Tri-Media, this transaction is recognized as non-arms length
and therefore subject to arms length
independent valuation by BDO Dunwoody.
Since the announcement of the completion of the 1,035,000 shares, the Company received additional subscriptions for the remaining 465,000 shares from certain arms length
The Company has entered into an agreement with Confederation Capital Corporation ("Confederation"), an arms length
service provider, wherein Confederation has provided the Company with extensive services regarding the development of new market and channel opportunities in EEC Territories and other European markets and new content opportunities for the Company's existing channels.
The proceeds of the First Private Placement will be used to pay specific outstanding debts of the Company to arms length
third parties, with the balance being added to working capital.
Gaetano Manti, Chairman of Norsat, purchased an additional 1,000,000 shares in a private transaction with an arms length
This transaction which involved both non arms length
and arms length
purchasers has been completed.
The subscribers were both arms length
and non-arms length
MRS), executed an arms length
Definitive Option Agreement to acquire all of the outstanding stock of Trans Mar, Inc.