The Marygold Companies to sell subsidiary Brigadier Security Systems for $2.2M

The Marygold Companies (MGLD) announced that it has entered into a stock purchase agreement to sell its wholly owned Canadian subsidiary, Brigadier Security Systems to SKCAL, an Arizona limited liability company whose sole member is a director and 11% shareholder of TMC. The proposed transaction aligns with the company’s corporate strategy to direct resources toward growth in the financial services sector. It is expected to close on or about July 1. Total consideration is estimated to be approximately $2.2M. The proposed transaction is subject to the customary prerequisites for transactions of this nature, including, but not limited to, completion of due diligence, board approval, fairness opinion and possible adjustments to purchase price after completion of audited financial statements. Proceeds from the sale of Brigadier will be used to pay down corporate debt and for general corporate purposes.