Nevadabobs.com Completes Purchase of U.S. Franchise System
Toronto-Nevadabobs.com Inc. announced it has completedthe purchase of all the U.S. intellectual property assets of NevadaBob's Golf Inc. for $1.8 million. The assets acquired includeall the rights of Nevada Bob's as a franchisor of the NevadaBob's franchise system in the United States. The balance of thetransaction, including the Canadian intellectual property and thenon-European international intellectual property assets, includingthe rights of Nevada Bob's as an international franchisor, willclose subject to obtaining further court orders.
Nevadabobs.com intends to grant interim license agreementsimmediately to all former Nevada Bob's franchisees in theUnited States to use the Nevada Bob's name in their territorywhile the franchise system is being reorganized. The reorganizationof the franchise system will commence immediately and will put thefranchise system on firm footing for strong future expansion andgrowth. The Canadian and international franchise systems will alsobe reorganized immediately when those acquisitions close.-Nevadabobs.com Inc.