VRB Power Systems Inc. (Vancouver, BC) announced that it has received TSX Venture Exchange approval for the transfer and cancellation of its outstanding performance-based escrow shares, previously owned by Federation Group Ltd. The cancellation of the shares has now been completed by Pacific Corporate Trust Company, which has reduced the issued and outstanding share capital of the company by five million shares.
To facilitate the completion of this transaction, the company negotiated the purchase of the shares for CAD$200,000 while retaining a judgment claim against Federation Group Ltd. for CAD$226,980.86.
