(March 30 – 15:45 ET) – IPC Financial Network Inc. has entered into asset purchase agreements with three financial planners within its financial planning network.

The company currently has over 1,000 financial planners in its distribution network and the purchase agreement has garnered much interest with many of these individuals.

The three individuals involved in these transactions are Bradley Sumner, Chris Hadjiyianni and Paulina Hadjiyianni. The aggregate consideration for these agreements between IPC and the SASP participants is $15,000 in cash and $622,500 payable by the issuance of 304,606 common shares at deemed share prices of $2.03 and $2.08.

These are arm’s length transactions and are subject to receipt of all necessary regulatory approval.
-IE Staff