Black Diamond has entered into an agreement to sell its Construction Services business to Northern Frontier Corp. (FFF-TSXV, not covered) for total consideration at closing of $9.8 mm. The purchase price consists of $2.4 mm worth of FFF shares (BDI will own 19% of the outstanding shares) and a $7.4 mm vendor take back loan with an interest rate of 10%. Note that the vendor take back loan will be adjusted lower by $1.3 mm once FFF formally executes an agreement to take over a lease which has been ....
