Big changes are afoot for one of Canada's leading host agencies.
Trevello, which has roughly 1,000 independent advisor members, says it is merging with M3 Capital Corp., an existing company listed on the Toronto Stock Exchange Venture Exchange.
In a statement issued ahead of the announcement, Zeina Gedeon, CEO of Trevello’s Canadian operating company, said the news “marks a significant milestone in Trevello’s journey.”
Gedeon said M3 Capital Corp. is a shell company listed on the Toronto Venture Exchange that was “formed and structured with the intention to merge with a company that the founding shareholders believe represent a major opportunity for the future.
“We are thrilled that Trevello is the best fit for them, and look forward to the next stage of our journey,” she said.
Trevello officials didn’t say what, if anything, the move will mean for its advisors. But Gedeon thanked Trevello advisors for their ongoing support.
“As we embark on this exciting journey, we want to take a moment to express our gratitude for your unwavering support and dedication to Trevello,” she said. “Thank you for your continued support and commitment to Trevello’s success.”
In a financial statement posted on Yahoo Finance, M3 Capital said Trevello is "Canada's leading host agency for the travel and leisure industry, empowering approximately 1,000 independent travel professionals, with innovative tools and exceptional support. With over 30 years of experience and partnerships with over 300 travel suppliers, Trevello offers comprehensive commissions and exclusive access to rates and perks. Trevello's comprehensive services include a superior back office, customer relationship management (CRM) platform, marketing resources, training and personalized mentoring."
Gedeon said that, following approval of the exchange and closing of the transaction, Trevello will become the majority owner (97%) of the public company, which will be named Trevello World Holdings Inc. Trevello founder Morris Chia will continue to be the majority shareholder and lead the holding company. Gedeon is a minority shareholder and will continue to lead the company’s Canadian division.
In July 2024 Trevello announced its intent to expand into the U.S., with travel industry veteran Elizabeth Crabill joining the team as the CEO of Trevello World Holdings. Gedeon is Chief Operating Officer of Trevello World Holdings.
The deal’s letter of intent expires 29NOV, 2024. A meeting of M3 shareholders will be held before the deal closes to approve the merger and the name change, choose a stock option plan, and elect a board of directors.
M3 officials said a comprehensive news release will be issued if and when the transaction receives final approval.
