KADESTONE CAPITAL CORP. ANNOUNCES SALE OF MARINE DRIVE PROPERTY
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Jan. 9, 2023 /CNW/ - Kadestone Capital Corp. ("Kadestone" or the "Company") (TSXV: KDSX) (OTCQB: KDCCF), a vertically integrated property company, announces that it has signed an agreement to dispose of the Company's 51% interest in its Marine Drive investment property (the "Property") as of December 31, 2022. - The 51% interest in the Property is held by 1230609 B.C.
- The sale of the Property will be effected pursuant to an agreement of purchase and sale whereby the Company will sell all of the issued and outstanding shares of the Registered Owner to 0995793 B.C.
- The Company intends to use the net proceeds from the sale of the Property to pay off existing debt and for general corporate purposes.