Redishred Capital Corp. to Be Acquired by VRC Companies

Redishred Capital Corp. has entered a definitive agreement to be acquired by VRC Companies, LLC. The all-cash transaction is valued at approximately CA$95 million, with shareholders receiving CA$5.00 per share. This price reflects a premium of 34.8% over the recent 90-day trading average. Upon completion, Redishred will become privately held.

The deal culminates a strategic review initiated in 2023. A special committee, with legal and financial advisers, led the process. The transaction received unanimous support from Redishred's board. Key shareholders, representing about 41% of shares, have committed to voting in favor.

The acquisition is expected to close in early 2025, pending shareholder and court approvals. It is not reliant on financing or regulatory conditions. Redishred's shares will be delisted following the transaction.