04:28 PM EDT, 11/01/2024 (MT Newswires) -- Montfort Capital ( MONTF ) after trade Friday said it completed the sale of its rights and interests in the TIMIA Capital business unit and its equity interests in the TIMIA Group investment funds to an affiliate of Round 13 Capital.

The sale of the TIMIA Group involved an all-cash payment of $4.5 million, subject to some purchase price adjustments, the company said.

Additionally, the buyer acquired $2 million in principal debt from TIMIA Capital Holdings Limited Partnership, which is part of the TIMIA Group, from Pivot Financial I Limited Partnership, an affiliate of Montfort, the company added.

Montfort shares closed unchanged at $0.08 on the TSX Venture Exchange.