TORONTO, ONTARIO--(Marketwired - Aug. 5, 2015) - Tuckamore Capital Management Inc. (TSX:TX)(TSX:TX.DB.B) ("Tuckamore") announced today that its wholly owned subsidiary, Tuckamore Holdings LP ("Tuckamore Holdings"), has completed the sale of its 80% indirect interest in IC Group LP in accordance with a purchase agreement entered into on July 30, 2015. The 100% interest of Tuckamore Holdings in the general partner of IC Group LP was sold at the same time.
Tuckamore also announced the completion of the sale by Tuckamore Holdings of its minority interest in RLogistics LP (which operates under the name "factorydirect.ca").
The net aggregate proceeds from the transactions were used by Tuckamore to reduce outstanding senior indebtedness. Year to date, Tuckamore has repaid approximately $6,600,000 of its senior credit facility.
About Tuckamore:
Tuckamore (http://tuckamore.ca) has investments in five businesses representing a diverse cross-section of the Canadian economy.
Contact Information:
Keith Halbert
Chief Financial Officer
416-775-3796
keith@tuckamore.ca