K
adestone Capital Corp. (TSXV: KDSX) (OTCQB: KDCCF) is pleased to announce a purchase agreement with Attollo Management Inc., led by real estate executive David Negrin. The deal involves acquiring a subsidiary of Attollo, which owns rights and interests in select real estate development projects, for C$12 million. This will be satisfied through the issuance of 12,000,000 common shares at C$1.00 per share, subject to an escrow agreement and time-based release schedule.
The closing is expected by December 31, 2025, or no later than June 30, 2026, pending customary conditions and regulatory approvals. The deal hinges on Attollo securing a binding definitive agreement for one or both of two residential and mixed-use projects in the Greater Vancouver area. There's no guarantee the acquisition will be completed as described.
Upon issuance, all shares will be subject to a four-month hold period. This acquisition marks a significant milestone for Kadestone, enhancing its pipeline with high-potential development assets in British Columbia's growth markets. It aligns with Kadestone's vision of developing innovative, community-focused projects.
As part of the deal, David Negrin will oversee the transfer of Attollo's agreed-upon assets and projects, including a portfolio across the Greater Vancouver region. Kevin Hoffman, Kadestone's Chief Development Officer, will lead project execution. Together, Negrin and Hoffman have delivered over 7,000 new homes, rezoned 60 million square feet, and enabled development of approximately 60,000 homes, much in partnership with First Nations.
