Starrex International Announces Closing of Sale of Real Estate Appraisal/Management Business

Nov 08, 2022

CALGARY, AB / ACCESSWIRE / November 8, 2022 / Starrex International, Ltd ("Starrex" or the "Company") (CSE:STX)(OTCQB:STXMF) is pleased to announce that, further to its press release dated October 3, 2022, it has closed the transaction involving the arm's length sale of its real estate appraisal management business conducted by its subsidiary Property Interlink, LLC and its real estate appraisal business conducted by its subsidiary Reliable Valuation Service, LLC, and substantially all of the related assets (collectively, the "Business"). After adjustments, the cash purchase price was US$9.847 million on a cash free, debt free basis. The net proceeds from the sale of the Business (after tax) and all expenses, including retention and change of control payments, are estimated to be US$6.2 million.

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