Concierge Technologies, Inc. (OTCMKTS:CNCG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
On March 10, 2020, Concierge Technologies, Inc., a Nevada Corporation (“Concierge”), through its wholly owned subsidiary, Gourmet Foods Limited, a New Zealand corporation (“Gourmet Foods”), entered into a definitive Agreement for Sale and Purchase of Shares and Current Account (the “Agreement”) with Graham Eric Eagle, Linda Janice Eagle, and Stephen Peter Lunn as Trustees of the GE and LJ Eagle Family Trust (the “Sellers”) to purchase all rights, title and interest in the printing business carried on by the Sellers known as Printstock Products Limited (“Printstock”). Refer to the Company’s current report on Form 8-K filed on March 16, 2020 for detailed information on the proposed transaction.
On March 23, 2020 Concierge, through its wholly owned subsidiary Gourmet Foods, and the Sellers of Printstock mutually agreed to extend the conditions date and the closing date (the “Dates”) under the agreement to June 22, 2020 and July 1, 2020, respectively, due to COVID-19’s impact on travel as well as social distancing. The Dates may be further adjusted by mutual consent if the effects of the COVID-19 virus continue to disrupt normal business operations.
The Agreement remains subject to additional customary representations, warranties, covenants and closing conditions.
About Concierge Technologies, Inc. (OTCMKTS:CNCG)
Concierge Technologies, Inc., through its subsidiaries, is engaged in capturing and presenting data from vehicle-mounted camera devices equipped for live-streaming; manufacturing and distributing New Zealand meat pies on a commercial scale, and selling and installing commercial and residential alarm monitoring systems. The Company’s three geographical segments include the United States, New Zealand and Canada. The United States segment includes the gathering of live-streaming video recording data displayed online. The New Zealand segment includes the production, packaging and distribution on a commercial scale of gourmet meat pies and related bakery confections. The Canada segment includes security alarm system installation and monitoring. Its subsidiaries include Kahnalytics Inc., Gourmet Foods Ltd and Brigadier Security Systems. Its operations in Canada include security alarm system installation and monitoring sold through its subsidiary Brigadier Security Systems.