Aquaint Properties agreed to buy the firm earlier this month, however the completion was held back due to "conditions precedent" and buyer's "due diligence", according to the statement.
The Singapore and Malaysia-based firm has agreed to pay Stanfield $100,000 for the 51 per cent stake, on top of a "special distribution" fee of $150,000.
Aquaint Properties has also agreed to inject $400,000 into the firm's $35 million retail and wholesale investment portfolio.
Should the company also be listed, it would be "subject to any required approvals" by the former parent company.
Stanfield's officers will continue managing the securities firm for a 12-month transition period.
