SCCAF - Sleep Country agrees to acquire Silk & Snow in all-cash deal

• Canada's leading sleep partner, Sleep Country Canada Holdings ( OTCPK:SCCAF ) to acquire 100% ownership of Toronto-based Silk & Snow Inc., recognized as one of Canada's fastest growing online retailers of thoughtfully made sleep essentials.
• Sleep Country will pay ~$24.0M in cash at closing and has agreed to pay up to an additional $19.45M in cash in early 2026 based on Silk and Snow achieving certain growth and profitability targets in aggregate for fiscal years 2023, 2024 and 2025.
• Silk & Snow will operate as an independent entity within Sleep Country, led by Chow as CEO and Mo as COO who both will join the Sleep Country's senior leadership team.
• The deal will be financed through Sleep Country's cash on hand and revolving credit facility.

• The transaction is expected to close effective January 1, 2023.

For further details see: