08:38 AM EDT, 06/20/2025 (MT Newswires) -- The Marygold ( MGLD ) said Friday it agreed to sell its Canadian unit, Brigadier Security Systems, to SKCAL for about $2.2 million.

The company said the buyer is an Arizona firm owned by a director and 11% shareholder of Marygold ( MGLD ).

The deal is expected to close around July 1, pending due diligence, board approval and other closing conditions, Marygold ( MGLD ) said.

The company said the net proceeds would be used to reduce debt and for general corporate purposes.