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Note 18 - Subsequent Events
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]
1
8
.
Subsequent Events
 
On
October 9, 2019
consistent with the Company’s historical risk management strategy to mitigate the foreign exchange fluctuations incurred on its future cash flows, the Company entered into a series of forward contracts to exchange US dollars for Canadian dollars. The notional amount of forward contracts the Company entered into was US
$30.5
million, which will convert to CDN
$40.5
million. The forward contracts mature between
January
and
December
of
2020.
 
On
October 31, 2019,
the Company entered into a Stock Purchase Agreement to purchase all of the issued and outstanding shares of Cedar Holdings Group, Incorporated, a fiber Internet provider business based in Durango, Colorado.  The closing of the transaction is contingent upon regulatory approval expected to take
45
days.  The expected purchase price is
$15.0
million of which
$11.0
million will be paid at closing,
$9.0
million in cash and
$2.0
million in Tucows Inc. shares.  The remaining
$4.0
million is expected to be paid on the
24th
and
36th
month anniversaries of the closing of the transaction dependent upon certain milestones as defined in the Share Purchase Agreement.