Dynamic Materials (BOOM) Acquires Canadian LRI Oil Tools For Approximately $650k And 9,584 Shares
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Dynamic Materials Corporation (NASDAQ: BOOM) announced it has acquired 100% of the stock of Alberta, Canada-based LRI Oil Tools Inc. (LRI). The cash and stock transaction is valued at approximately $650,000, and includes 9,584 shares of DMC restricted common stock. DMC intends to make an additional capital contribution of approximately $2.2 million into the LRI business to reduce indebtedness and enhance working capital.
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