Toronto-Nevadabobs.com Inc. announced it has completed the purchase of all the U.S. intellectual property assets of Nevada Bob's Golf Inc. for $1.8 million. The assets acquired include all the rights of Nevada Bob's as a franchisor of the Nevada Bob's franchise system in the United States. The balance of the transaction, including the Canadian intellectual property and the non-European international intellectual property assets, including the rights of Nevada Bob's as an international franchisor, will close subject to obtaining further court orders.
Nevadabobs.com intends to grant interim license agreements immediately to all former Nevada Bob's franchisees in the United States to use the Nevada Bob's name in their territory while the franchise system is being reorganized. The reorganization of the franchise system will commence immediately and will put the franchise system on firm footing for strong future expansion and growth. The Canadian and international franchise systems will also be reorganized immediately when those acquisitions close. -Nevadabobs.com Inc.