10:28 AM EST - SKANA Capital Corp. : announced that it has entered into a definitive share purchase agreement with Bus and Coach International, a private Nevada company, under which SKANA has agreed to acquire all of the issued and outstanding common shares of BCI in exchange for common shares of SKANA. As per the terms of deal, shareholders of BCI will receive, in the aggregate, 51.17 million common shares of SKANA, representing that number of common shares of SKANA that results in shareholders of BCI holding about 49.5% of SKANA after giving effect to the transaction. On closing of the Acquisition, BCI will have debt of not more than US$21.5 million, of which US$12 million will be paid off upon closing of the Acquisition, with the remaining US$9.5 million remaining as an obligation of the resulting issuer. SKANA Capital Corp.
shares V.SKN are trading unchanged at $0.26.
