04:25 PM EDT, 07/29/2024 (MT Newswires) -- Pollard Banknote ( PBKOF ) said Monday it agreed to the business of Clarence J. Venne, LLC, a manufacturer of bingo markers utilized primarily in the charitable gaming bingo market, for US$12.6 million.

The purchase price was funded from existing Pollard Banknote ( PBKOF ) cash resources and availability under its existing senior credit facilities.

"The bingo market is an important component of charitable gaming, and providing an expanded product offering to existing and new customers is a critical element of our strategic plan," co-chief executive John Pollard said in a statement.

Pollard shares closed up $0.20 to $27.25 on the Toronto Stock Exchange.