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SAN CLEMENTE, Calif. - The Marygold Companies, Inc. (NYSE American: MGLD), a small-cap company with a market capitalization of $38 million, announced it has entered into an agreement to sell its Canadian subsidiary, Brigadier Security Systems Ltd., to SKCAL LLC for approximately $2.2 million.
The transaction, expected to close around July 1, 2025, involves selling the Saskatoon-based security solutions provider to a company owned by a director and 11% shareholder of The Marygold Companies.
Nicholas Gerber, CEO of The Marygold Companies, said the sale aligns with the company’s strategy to focus on financial services. "While we had not put the company up for sale, the timing was right for both parties," Gerber stated, according to the press release.
The Marygold Companies has owned Brigadier, which provides security solutions to homes, businesses, government offices, and schools throughout Saskatchewan, since 2016.
The transaction remains subject to several conditions, including completion of due diligence, board approval, and a fairness opinion. The company plans to use proceeds from the sale to reduce corporate debt and for general corporate purposes.
The Marygold Companies, founded in 1996 and repositioned as a global holding firm in 2015, operates subsidiaries in various sectors including ETF fund management, financial services, food manufacturing, printing, security systems, and beauty products.
This information is based on a press release statement from The Marygold Companies.
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