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I'm very interested in this company's future. I see this as a great investment.
HT
It is unclear whether any of those companies would make a rival bid. Investors have not been betting on a substantially higher offer, with Macarthur shares fetching around 1 percent above the Peabody-ArcelorMittal offer. (Reporting by Mark Bendeich; Editing by Balazs Koranyi)
Peabody, the largest U.S. coal company, and ArcelorMittal, the world's top steel-maker, have failed to seal an agreed takeover with Macarthur, which is coveted for its supply of pulverized coal, a key steel-making ingredient.
SYDNEY, Aug 2 (Reuters) - Australian miner Macarthur Coal stoked the fires of takeover speculation on Tuesday, saying it remained in "positive" talks with bidders Peabody Energy and ArcelorMittal as well as unnamed rival suitors.
anybody know anything about OCE - Open EC Technologies? it is on the TSX. it is an inactive company that has been doing something lately... not sure what. They sold off their revenue business (in China) last fall. No alarm bells, debt, etc...
Hopefully it's not a dead DOG LOL
Maybe it will do tricks?
Why would they pick that ? lol
Blackdog anticipates that the common shares will begin trading under the symbol DOG during the week of Jan. 16, 2006.
I hope this dog will run, I have had to wait a long time...
Lamplighter finishes amalgamation with Blackdog
2006-01-13 12:25 ET - News Release
Mr. David Corcoran reports
BLACKDOG COMPLETES AMALGAMATION WITH LAMPLIGHTER
The amalgamation of Lamplighter Energy Ltd. and the privately owned Blackdog Resources Ltd. has been completed after being approved by the shareholders of each company.
The amalgamated company, Blackdog, has outstanding 10,031,675 common shares, warrants to acquire 2,407,678 common shares at an exercise price of 30 cents per share and options to acquire 854,632 common shares at exercise prices varying between 10 cents and 25 cents per share. Included in the common share amount are 690,000 common shares issued by private Blackdog as flow-through shares for tax purposes on Dec. 31, 2005, at 50 cents per share for gross proceeds of $345,000. The Blackdog directors and their families purchased 35 per cent of the flow-through private placement. This is the first part of the previously announced private placement of up to $3-million of both flow-through and non-flow-through common shares. Blackdog anticipates it will be closing its non-flow-through common share private placement priced at 40 cents per share on Jan. 31, 2006.
Management and directors of Blackdog
Blackdog's management is as follows:
George J. Hill, president and director
Mr. Hill has been a director and/or officer of various public and private oil companies over the past 30 years, including Bighorn Energy (now Enterra Trust Ltd.), Fall River Resources Ltd., Ryan Energy Ltd. and Jennifer Petroleum Ltd. Mr. Hill graduated from Michigan Tech University with a bachelor of science degree in business. Mr. Hill owns 720,000 common shares of Blackdog and resides in Calgary, Alta.
David A. Corcoran, chief financial officer, corporate secretary and director
Mr. Corcoran was the vice-president of operations for private Blackdog and was previously the corporate secretary and a director of Fall River Resources Ltd. He has a bachelor of commerce degree from the University of Ottawa. Mr. Corcoran and his spouse own 743,333 common shares of Blackdog and reside in Calgary, Alta.
T.W. (Tim) Morgan, director
Mr. Morgan is president of Morgan Air Services Co. Ltd., a private air charter company. He was executive vice-president of operations of Westjet Airlines Ltd. and has been a director since September, 1996. He is a graduate of Mount Royal College located in Calgary, Alta., and a member of its board of directors. Mr. Morgan controls 650,000 common shares of Blackdog and resides in Calgary, Alta.
Dr. Garth Von Hagen, director
Dr. Von Hagen has previously served on the board of CV Technologies Inc., a natural products manufacturer listed on the TSX Venture Exchange. Dr. Von Hagen graduated from the College of Dentistry at the University of Saskatchewan and is a practicing dentist residing in Edmonton, Alta. Dr. Von Hagen is currently enrolled in the executive MBA program at the University of Calgary. Dr. Von Hagen resides in Edmonton, Alta., and controls 385,000 shares of Blackdog.
Darcy Morgan, director
Mr. Morgan is a senior account executive with SAP Canada Ltd., a subsidiary of SAP AG Ltd. He has represented SAP to major oil and gas explorers and producers in Canada since 1998. Mr. Morgan has a bachelor of commerce degree from the University of Calgary. Mr. Morgan resides in Calgary, Alta., and he and his spouse own 200,000 common shares of Blackdog.
Alykhan Mamdani, director
Mr. Mamdani is the founder, president and a director of CriticalControl Solutions Corp., a TSX-V company. Mr. Mamdani has served on the board of various public and private companies. Mr. Mamdani has a bachelor of mathematics degree from the University of Waterloo, a bachelor of laws degree from the University of Western Ontario and a master of laws in corporate finance and law from Widener University in Wilmington, Del. Mr. Mamdani resides in Calgary, Alta., and owns 62,500 shares of Blackdog.
Future plans
The common shares of Blackdog will remain halted until Blackdog has satisfied certain requirements of the TSX-V, including removal of the encumbrances on its Whitebear property. On June 30, 2005, the operator placed a lien against the production of the wells until a $250,000 debt was satisfied. As of Jan. 12, 2006, this debt has been reduced to $78,586. Blackdog anticipates that the common shares will begin trading under the symbol DOG during the week of Jan. 16, 2006.
The amalgamation was the first step of the reverse takeover of Lamplighter by private Blackdog for the purposes of the policies of the TSX-V. The next step is to establish sufficient oil and gas reserves in order to meet the minimum listing requirements of the TSX-V. The TSX-V has notified Blackdog that it has six months to meet MLR or trading in its common shares may be halted or suspended. Blackdog plans to update the engineering report on its current properties for presentation to the TSX-V within the next two weeks, and anticipates the updated value of its properties will address the MLR concern.
Blackdog expects to have in excess of $1-million cash after transaction closing costs and after paying all valid Lamplighter debts, to spend on oil and gas properties and drilling prospects. Blackdog also expects to close its non-flow-through common share private placement on Jan. 31, 2006, which is expected to add to cash reserves. Blackdog's strategy with respect to its existing oil properties is to both enhance the production of the properties and maintain low overhead. Blackdog will be immediately performing necessary and long overdue maintenance on the wells on these properties to increase their production output at a nominal cost to the corporation. Blackdog also anticipates no abandonment liability on these wells in 2006.
Blackdog is working on the design of its website and anticipates it to be up and running by the end of January, 2006.
Blackdog anticipates making more announcements on strategic partnerships and developments in the near future.
BMO out NB and Cannacord in.
This explains the selling pressure, all aboard?...
Covik converts debentures into 12-cent units
2005-10-31 19:47 ET - News Release
Mr. Kaare Foy reports
COVIK DEBENTURES CONVERTED
Covik Development Corp.'s remaining $70,000 principal amount of convertible debentures issued on Dec. 8, 2004, have been converted at maturity into 583,333 units at 12 cents per unit, in accordance with the terms of the debentures. Each unit consists of one common share and one Series A share purchase warrant. Each Series A share purchase warrant entitles the holder to acquire, upon exercise, one common share at 12 cents per share until Oct. 31, 2006.
I hope this isn't another black dog...
Lamplighter merger target Blackdog to fetch $3-million
2005-10-20 14:12 ET - News Release
Mr. Alykhan Mamdani reports
Lamplighter Energy Ltd. has provided an update to its news release in Stockwatch of Oct. 12, 2005, regarding the reverse takeover of Lamplighter by Blackdog Resources Ltd. by way of amalgamation.
Blackdog has finalized the terms of its proposed private placements, and intends to raise up to $1-million by offering up to 2.5 million Blackdog common shares at a price of 40 cents per share and up to $2-million by offering up to four million Blackdog common shares as flow-through shares for the purposes of the Income Tax Act (Canada) at a price of 50 cents per share. Blackdog intends to proceed with the private placements whether or not the amalgamation is completed. Subscribers to the private placements will receive common shares of Blackdog in the event that the private placements close prior to closing of the amalgamation, or common shares of the amalgamated corporation in the event that the private placements close after closing of the amalgamation. Blackdog may pay a commission, in cash or shares, of 6 per cent on subscriptions from the non-flow-through private placement and 4 per cent on subscriptions from the flow-through private placement.
Blackdog intends to use the net proceeds from the private placement for the acquisition of oil and gas production and drilling prospects in Western Canada. There is no assurance that an acquisition of oil and gas properties will occur prior to the shareholders meetings of Lamplighter and Blackdog to consider the amalgamation, or at all.
Completion of the amalgamation is subject to a number of conditions, including but not limited to acceptance by the TSX Venture Exchange and shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the transaction, any information released or received with respect to the amalgamation may not be accurate or complete and should not be relied upon. Trading in the securities of Lamplighter and Blackdog should be considered highly speculative.
Lamplighter formalizes Blackdog deal
2005-10-12 20:57 ET - News Release
Mr. Alykhan Mamdani reports
LAMPLIGHTER ENERGY LTD. AND BLACKDOG RESOURCES LTD. ENTER INTO AMALGAMATION AGREEMENT
Lamplighter Energy Ltd. has entered into an amalgamation agreement with Blackdog Resources Ltd., a private oil and gas company, providing for a reverse takeover of Lamplighter by Blackdog pursuant to TSX Venture Exchange Policy 5.2.
Pursuant to the amalgamation agreement, the securityholders of each company will exchange their shares, stock options and share purchase warrants of Lamplighter and Blackdog, respectively, into equivalent securities of the new amalgamated company (Amalco) on a 1:1 basis, at a deemed value of 20 cents per Amalco share. The name of Amalco will be Blackdog Resources Ltd.
Concurrently with the closing of the RTO, Blackdog intends to raise an additional $2-million to $3-million. It is anticipated that even if the RTO is not completed, Blackdog will proceed with the private placement. Subject to market conditions, Blackdog anticipates issuing a combination of flow-through and non-flow-through shares under its private placement, with pricing between 35 cents to 50 cents per share. It is intended that the proceeds of the private placement will be used for the acquisition of oil and gas production and drilling prospects in Western Canada. It is expected that it will be necessary for Blackdog or Amalco to complete the acquisition of additional oil and gas properties in order for Amalco to meet the minimum listing requirements of the TSX-V and complete the RTO. There is no assurance that the acquisition of the necessary oil and gas properties will occur prior to the shareholders meetings of Lamplighter and Blackdog or at all.
The board of directors of Amalco shall comprise five nominees of Blackdog and one representative from the present Lamplighter board. The RTO is expected to be completed by Dec. 9, 2005, subject to receipt of applicable shareholder and regulatory approval.
It is expected that meetings of the shareholders of both companies will be held on or about Dec. 8, 2005, to consider and approve the proposed amalgamation. Management of Lamplighter and Blackdog will be preparing a joint information circular outlining the proposed RTO to be mailed to shareholders of both companies in conjunction with the meetings. The amalgamation must be approved by at least two-thirds of the shareholders of Lamplighter and Blackdog who vote at the meetings. There can be no guarantee that both companies' shareholders will approve the amalgamation.
Not including any securities to be issued under the private placement, Amalco will have approximately 9,405,175 common shares, 2,438,928 warrants and 854,632 options outstanding. The combined company will have approximately $300,000 in debt, usable tax losses of approximately $2.5-million, $925,000 in cash and production of approximately 28 barrels of oil per day of light crude. The 15-per-cent discounted value of Amalco's main asset, which is a five-well field in Whitebear, Sask., is approximately $339,668 (based on a wellhead price of $41.47 per barrel). This value is before income tax and based on forecast pricing as assigned to the corporation's reserves by Dobson Resource Management Ltd. as of Jan. 1, 2005, in its National Instrument 51-101 compliant report. Amalco will also have an interest in a gas well in Manyberries, Alta., for which the report has assigned no reserves.
The common shares of Lamplighter will remain halted until the TSX-V has received its initial filing pursuant to the RTO.
Completion of the RTO is subject to a number of conditions, including but not limited to TSX-V acceptance and Lamplighter and Blackdog shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.
Why thank you...
Lamplighter delays Blackdog deal until Oct. 7
2005-09-28 22:41 ET - News Release
Mr. Alykhan Mamdani reports
UPDATE ON PROPOSED REVERSE TAKE-OVER INVOLVING LAMPLIGHTER ENERGY LTD. AND BLACKDOG RESOURCES LTD.
Lamplighter Energy Ltd. and Blackdog Resources Ltd. contemplated entering into a formal amalgamation agreement by Sept. 26, 2005, but the parties have agreed to extend this date until Oct. 7, 2005. The parties have now commenced their due diligence review of each another and have concluded negotiations on substantially all of the business terms of the proposed amalgamation agreement.
It is proposed that pursuant to the amalgamation agreement to be entered into shortly, the shareholders of Lamplighter will receive one share of the new amalgamated company (Amalco) for each common share of Lamplighter at a deemed price of 20 cents per share. Each shareholder of Blackdog will also receive one share of Amalco at a deemed price of 20 cents per share for each common share of Blackdog that they own. It is expected that the name of Amalco will be Blackdog Resources Ltd.
Lamplighter currently has 3,096,320 issued and outstanding common shares and 309,632 options. No shareholder of Lamplighter owns greater than 10 per cent of the outstanding common shares. The corporation has issued convertible debentures to the directors of the corporation for gross proceeds of $37,500 at an interest rate of 12 per cent per year and may issue an additional $12,500 of debentures prior to completion of the reverse takeover. The debentures are convertible into units at a price of 20 cents per unit. Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to acquire a common share for 30 cents for a period of two years from issuance. As of its June 30, 2005, unaudited financial statements, Lamplighter had a balance of cash and receivables of approximately $10,000 and outstanding liabilities of $325,000. In addition, as of June 30, 2005, Talisman Energy Inc. placed a lien on the corporation's main asset, which is a producing oil field in southeastern Saskatchewan so the corporation effectively has no cash flow as of this date.
As part of the RTO, the corporation will be preparing a management information circular outlining the proposed transaction with Blackdog. The information circular will be delivered to shareholders of Lamplighter and Blackdog in connection with special shareholders meetings of both Lamplighter and Blackdog, where the shareholders will be asked to consider and approve the amalgamation. The amalgamation must be approved by at least two-thirds of the shareholders of Lamplighter and Blackdog who vote at the meetings. There can be no guarantee that both companies' shareholders will approve the amalgamation. It is contemplated that the directors of Blackdog will become the directors of Amalco, although one of the current directors of Lamplighter may remain on the board of directors of Amalco after completion of the RTO.
Concurrently with the closing of the RTO, Blackdog intends to raise an additional $2-million to $3-million. It is anticipated that even if the RTO is not completed, Blackdog will proceed with the private placement. Subject to market conditions, Blackdog anticipates issuing a combination of flow-through and non-flow-through shares under its private placement, with pricing between 35 cents to 50 cents per share. It is intended that the proceeds of the private placement will be used for the acquisition of oil and gas production and drilling prospects in Western Canada. To complete the RTO, it will be necessary for Amalco to complete the acquisition of oil and gas properties and for the resulting issuer to meet the minimum listing requirements of the TSX Venture Exchange. There is no assurance that the acquisition of any oil and gas properties will occur prior to execution of the amalgamation agreement or prior to the special shareholders meetings of Lamplighter and/or Blackdog.
In connection with the RTO, Lamplighter will apply to the TSX-V for exemption from sponsorship in accordance with TSX-V Policy 2.2.
Blackdog currently has 6,057,855 common shares outstanding and 2,313,928 common share purchase warrants exercisable at 30 cents for a period of two years from Aug. 25, 2005. Blackdog also has outstanding 70,000 options exercisable at 10 cents per share and 475,000 options exercisable at 20 cents per share granted to its directors and officers. Management members of Blackdog currently own 40.9 per cent of the issued and outstanding shares of Blackdog. Blackdog was incorporated under the Business Corporations Act (Alberta) on Sept. 28, 2004, and as of Aug. 31, 2005, management estimates that it has approximately $955,000 in cash, no long-term debt and payables of approximately $20,000. It has no oil and gas assets at this time.
Blackdog's management is as follows:
George J. Hill -- president and director
Mr. Hill has been the president and/or a director/officer of many successful public and private oil companies over the past 30 years. He has been associated with Bighorn Energy Ltd. (now Enterra Trust Ltd.), Fall River Resources Ltd., Ryan Energy Ltd. and Jennifer Petroleum Ltd. Mr. Hill graduated from Michigan Tech University with a bachelor of science degree in business. Mr. Hill owns 720,000 common shares of Blackdog and resides in Calgary, Alta.
David A. Corcoran -- vice-president of operations, corporate secretary and director
Mr. Corcoran was previously corporate secretary and a director of Fall River Resources Ltd., a TSX-V oil and gas company focused on exploration in Kansas. He has a bachelor of commerce degree from the University of Ottawa. Mr. Corcoran and his spouse currently own 720,000 common shares of Blackdog and reside in Calgary, Alta. Mr. Corcoran also owns 3,333 common shares of Lamplighter (which he acquired in 1998).
T.W. (Tim) Morgan -- director
Mr. Morgan is a co-founder, executive vice-president of operations and a director of Westjet Airlines Ltd. Mr. Morgan also sits on the board of AeroMechanical Services Ltd., a TSX-V company. Mr. Morgan is a graduate of Mount Royal College located in Calgary, Alta., and a member of its board of directors. He is a resident of Calgary, Alta.
Dr. Garth Von Hagen -- director
Dr. Von Hagen has previously served on the board of CV Technologies Inc., a natural products manufacturer listed on the TSX-V. Dr. Von Hagen graduated from the College of Dentistry at the University of Saskatchewan and is a practising dentist residing in Edmonton, Alta. He is also on the board and is a past chairman of Boyle McCauley Health Centre, a non-profit inner city health centre in Edmonton. Dr. Von Hagen is currently enrolled in the executive MBA program at the University of Calgary.
Darcy Morgan -- director
Mr. Morgan is a senior account executive with SAP Canada Ltd., a subsidiary of SAP AG Ltd. Over 80 per cent of world oil and gas production is managed with SAP's enterprise resource planning software. He has represented SAP to the major oil and gas explorers and producers in Canada since 1998. Previously, Mr. Morgan managed multiple marketing and sales initiatives with IBM Canada. Mr. Morgan graduated with a bachelor of commerce degree from the University of Calgary and resides in Calgary, Alta.
Not including any securities issued under the private placement, Amalco will have approximately 9,155,175 common shares, 2,313,928 warrants and 854,632 options outstanding. (Assuming that the debentures are converted, an additional 250,000 common shares and 125,000 warrants would be issued by Amalco.) The combined company will have approximately $300,000 in debt, usable tax losses of approximately $2.5-million, $925,000 in cash and production of approximately 28 barrels of oil per day of light crude. The 15-per-cent discounted value of Amalco's main asset, which is a five-well field in Whitebear, Sask., is approximately $339,668 (based on a wellhead price of $41.47 per boe). This value is before income tax and based on forecast pricing as assigned to the corporation's reserves by Dobson Resource Management Ltd. as of Jan. 1, 2005, in its National Instrument 51-101 compliant report. Amalco will also have an interest in a gas well in Manyberries, Alta., for which the report has assigned no reserves.
The common shares of Lamplighter will remain halted until the TSX-V has received the corporation's initial filing pursuant to the RTO.
Completion of the RTO is subject to a number of conditions, including but not limited to TSX-V acceptance and shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the transaction, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of Lamplighter should be considered highly speculative.
Get em while it's still a shell...
PI got 25k today.
AOXp Andover Ventures approaching QT deadline
2005-09-23 17:03 ET - Miscellaneous
The shares of the company were listed on the TSX Venture Exchange on Oct. 24, 2003. The company, being classified as a capital pool company, is required to complete a qualifying transaction within 24 months of its date of listing, in accordance with exchange Policy 2.4. The records of the exchange indicate that the company has not yet completed a QT. Failure to complete a QT by the 24-month anniversary date of Oct. 24, 2005, may result in the company's trading status being changed to a suspension without further notice, in accordance with exchange Policy 2.4, Section 14.6.
I wonder how this deal is coming along...
Lamplighter Energy halted at 7:23 a.m. PT
2005-07-27 10:25 ET - Halt Trading
Lamplighter Energy Ltd. was halted at 7:23 a.m. PT on July 27, 2005, pending its reverse takeover.
Would be nice. This game has gone on long enough.
It's time to announce that major aquisition.
More maneuvering...
Now a 100,000 share cross at .18
Covik Development 2.7-million-share private placement
2005-09-15 20:24 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Aug. 18, 2005.
Shares: 2.7 million
Price: 12 cents per share
Warrants: 2.7 million share purchase warrants to purchase 2.7 million shares
Exercise price: 15 cents for a one-year period
Placees: 24
Insiders: Oceanic Management Ltd. (Kaare Foy) 50,000; Karim S. Jiwa 70,000; Ian D. Lambert 30,000; Steven J. Kappelle 250,000
Pro groups: Glenn Thornberg 50,000; Shameen Mawji 80,000; Clive M. Stockdale 100,000; James Oleynick 150,000; Anthony P. Fierro 100,000; Nigel Selby 50,000; Martin Burian 100,000; Saleem Tyab 75,000; Sara Tyab 25,000
Everybody on board yet? Where's the news??
114k traded in the last hour on a friday... Hmmm
Kazakhstan may be getting hot.
Ask .22 lets go for a ride...
ALF Alpetro puts options in Kiddle...
2005-08-24 13:10 ET - Options Proposed
Mr. Nazrul Islam reports
Alpetro Resources Ltd. has granted and reserved for issuance a director's stock option in favour of David Kiddle, who was elected as a new director of Alpetro at its annual general meeting held on May 27, 2005, in the amount of 50,000 common shares exercisable at 16 cents per share, expiring coincident with Alpetro's outstanding stock options on June 7, 2006.
The stock option is granted pursuant to Alpetro's stock option plan which provides for a rolling maximum of 10 per cent of the issued and outstanding common shares of Alpetro, which plan was reapproved by Alpetro's shareholders at the annual meeting.
Ask at .195 now a pp...
Covik arranges $300,000 private placement
2005-08-18 17:19 ET - News Release
Mr. Kaare Foy reports
COVIK TO RAISE $300,000 PRIVATELY
Covik Development Corp. is arranging a non-brokered private placement of approximately 2.5 million units at 12 cents per unit for gross proceeds of approximately $300,000. Each unit will comprise one common share and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to acquire, upon exercise, one further common share of the company for a period of one year at a price of 15 cents. The proceeds will be added to working capital and used primarily for continuing asset acquisition investigations and evaluations. Some finder's fees may be payable.
The private placement is subject to acceptance for filing by the TSX Venture Exchange. Upon acceptance, it is anticipated that the private placement will close in September, 2005.
Bid .16 Ask .175 Shell games.
LYR Lyra arranges 10-million-share financing
2005-05-18 13:59 ET - News Release
Mr. Sammy Cheng reports
Lyra Resources Ltd. will be seeking approval from the TSX Venture Exchange to complete a non-brokered private placement of up to 10 million units at a price of five cents per unit for gross proceeds of up to $500,000. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will be exercisable for one common share at a price of 10 cents per share for a period of two years.
Funny how the price came down today, for this?...
Covik Development grants 450,000 12-cent stock options
2005-08-09 20:05 ET - Options Proposed
Mr. Kaare Foy reports
COVIK GRANTS OPTIONS
Covik Development Corp. has granted incentive stock options to directors and officers to purchase a total of 450,000 common shares. The options are exercisable until Aug. 8, 2010, at an exercise price of 12 cents per share. The options were granted under the company's incentive stock option plan which has been approved by shareholders and accepted for filing by the TSX Venture Exchange.
CIZh Cierra appoints MacDonald to board, Chew resigns
2004-10-26 18:41 ET - News Release
Mr. Gary MacDonald reports
Cierra Pacific Ventures Ltd. has appointed Gary B. MacDonald to the company's board of directors. In addition, Mr. MacDonald has been appointed as president and chief executive officer.
Harry Chew has resigned as president and director. The board would like thank Mr. Chew for his contribution over the past few years.
Lamplighter enters RTO deal with Blackdog Resources
2005-07-26 18:05 ET - News Release
Mr. Alykhan Mamdani reports
LAMPLIGHTER ENERGY LTD. ENTERS INTO REVERSE TAKEOVER LETTER OF INTENT WITH BLACKDOG RESOURCES LTD.
Lamplighter Energy Ltd., pursuant to the letter of intent, will issue one common share for each common share of Blackdog Resources Ltd. The combined corporation will continue under the name "Blackdog Resources Ltd." with the current directors and officers of Blackdog plus one Lamplighter board member to be appointed on closing of the transaction. The president of Blackdog is George J. Hill, who has over 30 years of oil and gas industry experience and been involved with many successful private and public oil and gas companies. The other current directors and officers of Blackdog are T.M. (Tim) Morgan, executive vice-president, co-chief operating officer and a director of WestJet Airlines Ltd.; David A. Corcoran, vice-president operations and corporate secretary of Blackdog; Dr. Garth Von Hagen, DMD, a practicing dentist in Edmonton and former director of CV Technologies Inc.; and Darcy Morgan, senior account executive with SAP Canada Ltd. in Calgary.
Blackdog intends to complete private placements of flow-through and non-flow-through securities for total gross proceeds of approximately $2-million, on terms agreeable to both corporations based on market conditions. The final terms of the reverse takeover and the private placements are expected to be announced on or before Aug. 31, 2005, after due diligence has been completed by both parties.
Closing of the transaction is subject to a number of conditions including due diligence, board and (if required) shareholder approval, entering into a formal acquisition agreement and regulatory approval.
LL Lamplighter Energy arranges financing for restructuring
2005-06-06 14:18 ET - News Release
Mr. Alykhan Mamdani reports
LAMPLIGHTER ENERGY LTD. ANNOUNCES RESTRUCTURING PLANS
Lamplighter Energy Ltd.'s board of directors, as elected pursuant to Lamplighter's annual meeting on May 25, 2005, has reviewed the business of the corporation and determined that significant restructuring of the business is required. As reported in Stockwatch on May 30, 2005, the operator for its primary oil wells in Saskatchewan has placed a lien on its properties in order to recover approximately $250,000 in debt. In addition, a number of other debts of the corporation are past due. The lien has effectively eliminated the corporation's cash flow.
As such, the corporation has taken measures to significantly reduce overhead and eliminate discretionary expenditures. In addition, the corporation announces a proposed non-brokered private placement of up to 3.6 million common shares at a price of seven cents per share for gross proceeds of $252,000. It is anticipated that the directors of the corporation will subscribe for 35 per cent of the private placement, or more as required.
Closing of the private placement will be subject to the successful negotiation with certain of the corporation's creditors. The proceeds of the private placement will be used for immediate working capital purposes and to restructure the business of the corporation.
In addition, the corporation is pleased to announce the addition of Andrew Osis to its board of directors. Mr. Osis is currently president of Trissio Corp., a corporate advisory and merchant capital corporation. He is a former vice-president, global banking, for RBC Dominion Securities and has extensive experience in the capital markets and energy sector. He is currently a director of Delphi Energy Corp., a Toronto Stock Exchange-listed oil and gas company and Z28 Capital Corp., a TSX Venture Exchange-listed capital pool company.
Lamplighter also announces that it intends to grant 100,000 stock options to each of Andrew Osis, Alykhan Mamdani, J. Kenney Berscht and Eugene Chen, all directors of the corporation, upon completion of its proposed private placement. The stock options will be exercisable for a period of five years from the date of the grant at a price of 10 cents per share.
Covik names Kappelle as director
2005-05-25 12:53 ET - News Release
Mr. Kaare Foy reports
KAPPELLE APPOINTED DIRECTOR OF COVIK
Covik Development Corp. has appointed Steven James Kappelle as a director of the company.
Mr. Kappelle has extensive international experience in the oil and gas industry. His positions have included general manager of Emerald Energy DMCC in Dubai and general manager of Uni-Oil AG in Kazakhstan. Prior to 1999, Mr. Kappelle acted as an independent oil and gas consultant for a variety of international clients on a number of significant projects, and as a manager of various aspects of Shell Markets Middle East.
Mr. Kappelle has resided in Australia and Dubai and currently resides in Kazakhstan. He holds a bachelor of economics (honours) degree from the University of Western Australia. Mr. Kappelle is the honorary Australian consul for Kazakhstan.
CKDh Covik hires Kappelle to negotiate oil and gas deal
2005-05-25 12:40 ET - News Release
Mr. Kaare Foy reports
COVIK SIGNS CONSULTING CONTRACT
Covik Development Corp. has entered into a contract for the provision of consulting services with Steven James Kappelle, under which Mr. Kappelle will negotiate on behalf of the company the acquisition of an oil and gas asset in Central Asia that meets the requirements of the TSX Venture Exchange for Tier 2 oil and gas issuers, on terms acceptable to the company. The contract expires Dec. 31, 2005.
As separately announced in Stockwatch, Mr. Kappelle has agreed to join the company's board of directors. He will be granted an option to purchase 450,000 shares at 12 cents per share with a further option to purchase 550,000 shares as soon as the company's capital structure so permits, this option being exercisable at the higher of 12 cents and the lowest price permitted by the policy of the TSX Venture Exchange at the time of grant.
For his consulting services, Mr. Kappelle will receive an initial payment of $15,000 (U.S.). From June 1, 2005, Mr. Kappelle will be paid $10,000 (U.S.) per month for a three-month period or until the company reactivates, whichever occurs first. On Aug. 31, 2005, or the reactivation and refinancing of the company, the terms and conditions of the consultancy contract will be reviewed with the understanding that the minimum monthly remuneration will be $10,000 (U.S.) through to the end of the contract period.
Mr. Kappelle, based in Almaty, Kazakhstan, has considerable experience in the oil and gas sectors in the area, having negotiated, undertaken and executed significant projects for various international interests.
SSE Silver Spruce abandons Synxx and Ethxx deal
2005-07-05 15:04 ET - News Release
Mr. Lloyd Hillier reports
Silver Spruce Resources Inc. is no longer pursuing a reverse takeover bid announced in November, 2003, with Synxx Synfuels Inc. and Ethxx Internation Inc. both of Thornhill, Ont. The corporation is no longer pursuing a business combination with Synxx or Ethxx and is currently in the process of negotiating with Synxx and Ethxx for compensation rated to the expenses incurred by the corporation in pursuing the business combination.
The corporation is currently exploring other ventures in the energy sector and will update investors as new developments transpire
COWh CBX Ventures to raise up to $324,000 privately
2005-06-09 18:10 ET - News Release
Mr. Lawrence Talbot reports
$324,000 PRIVATE PLACEMENT AND STOCK OPTION GRANTS
CBX Ventures Inc. has proposed the following transactions:
a non-brokered private placement of up to 2.7 million units at a price of 12 cents per unit, for gross proceeds of $324,000. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder, on exercise, to purchase an additional common share of the company at a price of 22 cents for a period on one year and one day following closing, provided that the warrants may not be exercised until the earlier of the last day of their term or following the company graduating to Tier 2 of the main TSX Venture Exchange board. This private placement will be completed in two tranches. The first tranche will consist of up to one million units where no finder's fees will be paid. The second tranche will consist of up to 1.7 million units where a finder's fee (consisting of cash and/or warrants having the same terms as those in the units) may be payable; and
the granting of 270,000 stock options, under the company's stock option plan, to various consultants of the company, exercisable for a period of five years at an exercise price of 12 cents per share.
The above proposed private placement is subject to acceptance for filing by NEX.
The company continues to search for a suitable acquisition
CLPh Calypso settles debt, arranges financing
2005-06-02 20:22 ET - News Release
Mr. John Gill reports
DEBT SETTLEMENT AND PRIVATE PLACEMENT
Calypso Acquisition Corp. has negotiated the settlement of approximately $140,000 in debt owed to arm's-length parties, by the issuance of units at eight cents per unit, each unit comprising one share and one share purchase warrant exercisable at 10.5 cents per share for a period of 12 months.
The company has also negotiated a non-brokered private placement of 4,375,000 units at eight cents per unit to raise gross proceeds of $350,000 and a convertible loan of $150,000. Proceeds of the private placement and convertible loan will be used for working capital.
Each unit issuable in the private placement will comprise one share and one share purchase warrant, each warrant exercisable to acquire one additional share at a price of 10.5 cents for a period of 12 months. Proceeds of the private placement will be used for working capital. A finder's fee will be payable in accordance with NEX policies.
The convertible loan will be for a term of two years and bear interest at the rate of London Interbank Offered Rate (LIBOR) plus 2 per cent per year. Principal and interest outstanding under the loan will be convertible into units of the company at 10.5 cents per unit, each unit comprising one share and one share purchase warrant, each warrant exercisable to acquire one additional share for 12 months at 10.5 cents per share. A finder's fee will be payable in accordance with NEX policies.
The transactions are all subject to regulatory approval. The company is continuing its review of possible acquisition opportunities.
The company has been advised by its controlling shareholder, Brazilia Holdings Ltd., that it has sold the shares it holds in the company to a number of unrelated accredited investors.
KAV offer at a buck a share...
Streamline Web name change to Kavalmedia; 1:3 rollback
2005-05-16 16:30 ET - New Listing
Also Change Name, Roll Back Shares (C-WBS) Streamline Web Broadcasting Inc
Pursuant to a special resolution passed by shareholders on Nov. 9, 2004, the company has consolidated its capital on a one-new-for-three-old basis. The name of the company has also been changed as follows.
Effective at the opening, May 17, 2005, the common shares of Kavalmedia Services Ltd. will commence trading on the TSX Venture Exchange, and the common shares of Streamline Web Broadcasting Inc. will be delisted. The company is classified as a broadband media company.
Postconsolidation capitalization: 100 million shares with no par value of which 2,656,515 shares are issued and outstanding
Escrow: Nil shares
Transfer agent: Pacific Corporate Trust Company
Trading symbol: KAV (new)
Cusip No.: 486331 10 1 (new)
TNGp Taos Capital to acquire TransGaming for QT
2005-05-12 13:04 ET - News Release
Mr. Louis Plourde reports
TAOS CAPITAL INC. ANNOUNCES PROPOSED QUALIFYING TRANSACTION WITH TRANSGAMING TECHNOLOGIES INC.
Taos Capital Inc. signed, on May 3, 2005, an arm's-length letter of intent with TransGaming Technologies Inc. (TG) for the potential acquisition of all the issued and outstanding securities of TG. The acquisition is expected to constitute the qualifying transaction of Taos as defined in Policy 2.4 of the TSX Venture Exchange Corporate Finance Manual.
About TransGaming Technologies Inc.
TG is a private company engaged in the development of software portability technology and tools for the electronic entertainment sector since incorporation in May, 2000. TG's unique, proprietary technologies facilitate the migration of video game content from platform to platform so that content developed for one gaming system, such as Microsoft's Xbox, can be deployed on alternate gaming systems such as Sony's PlayStation 2 and others, including next-generation consoles and devices. TG has also developed the product Cedega, a technology that allows games originally developed for Microsoft's Windows to run on Linux operating systems.
The electronic gaming industry is recognized as the fastest-growing sector in the software space. Next-generation video game systems will feature increased computing power, allowing developers and publishers to continuously improve the gaming experience. However, increasing performance and providing better quality content will result in higher development costs, and moreover, as is currently the case, the distinct architecture and development environment that characterize each system will require expensive redevelopment of the content for each platform. TG's current and future portability products target the needs of developers and publishers to release multiplatform content to the market more rapidly and cost-effectively than what is currently available.
TG is a private company that was incorporated under the Business Corporations Act (Ontario) on May 9, 2000. TG's head office is located at 312 Adelaide St. W, suite 301, Toronto, Ont., M5V 1R2. TG also has a research and development office located at 55 Byward Market, second floor, Ottawa, Ont., K1N 9C3.
TG derives revenue through upfront development payments plus back-end licensing fees on a per-unit-sold basis for those titles that TG's portability technology is applied to. TG also generates a continually growing revenue stream through its Linux subscription revenue; this revenue stream is based on end-users paying a monthly user fee to gain access to TG's Linux product, Cedega, allowing them to play hundreds of their favourite Windows games on Linux.
Current members of management of TG are Vikas Gupta, president and chief executive officer; Gavriel State, chief technology officer and founder; Dennis Ensing, chief financial officer, and Eric Wills, director of business development.
The following text provides a brief description of the antecedents of the members of management of TG, who will also be the members of management of the resulting issuer:
Mr. Gupta, 36, is an entrepreneur with a successful record as an executive and creator of high-tech companies. Prior to TG, he was the founder and president of InterLogic Systems, a telephony consulting and systems integration firm dedicated to Fortune 1000 clients in the areas of computer telephony integration, interactive voice response systems and fax processing systems. He was responsible for strategy, business and client development, and negotiating deals and partnerships for the company. In 1998, InterLogic Systems was acquired by Prima Telematic Inc., a Quebec-based competitor, where Mr. Gupta acted as executive vice-president of Prima Telematic and as president of Prima Canada. He is a graduate of one of Canada's premier technology institutions, the University of Waterloo.
Mr. State, 32, is the founder of TG. He possesses hard-core technical background and engineering management experience. Prior to founding TG, he founded and led Corel's Linux applications development team, and later served as its software architect. Mr. State was responsible for Corel's use of the Open Source Wine project as a solution for moving Windows applications such as WordPerfect Office 2000 and CorelDRAW to Linux. Prior to his involvement with Linux, he led the CorelDRAW for Macintosh development team. In addition to portability technology and graphics, he has also worked on development tools at both Microsoft and Metrowerks, as well as on network-distributed virtual reality systems at the University of Waterloo. He graduated from the University of Waterloo's systems design engineering program and holds a bachelor of applied science degree.
Mr. Ensing, 44, was an entrepreneurial executive in his own start-ups and a chief financial officer for a number of emerging and high-growth private companies from 1989 to 1998. From 1998 to 2001, he was vice-president with the corporate finance practice of Ernst & Young and worked exclusively in the technology communications and entertainment vertical. He possesses a unique blend of both operational and transactional experience. He has a business degree from Wilfrid Laurier University. He is a chartered accountant and chartered business valuator.
Mr. Wills, 32, prior to joining TG, worked as a director at TKO Software, a video game production company that develops games on consoles, PCs, hand-held and wireless phone handsets. TKO is best known for its work with EA's Medal of Honor franchise (Metal of Honor: Allied Assault Breakthrough expansion pack and Medal of Honor: Pacific Assault wireless phone development and hand-held development). At TKO, Mr. Wills spearheaded new business development, including lead generation, developmental research, inside sales and contract negotiation, and also assisted with recruiting and staffing.
There are currently 11 shareholders of TG, of which four hold more than 10 per cent of the outstanding shares on a fully diluted basis, including Mr. State (32.85 per cent), Mr. Gupta (14.84 per cent) and Cotyledon Capital Inc., a corporation incorporated under the laws of Ontario and a community-sponsored small business investment fund (CSBIF) managed by TD Capital (13.16 per cent). William Lambert is the president of Cotyledon and is managing director of TD Capital's Canadian private equity partners. TD Capital is the independent private equity arm of TD Bank Financial Group. Innovations Foundation Internet Fund (I) Inc., a corporation incorporated under the laws of the Ontario and a CSBIF held by New Millennium Venture Fund, which is managed by Covington Capital Corp. (a venture capital investment firm) (10.36 per cent). Grant Brown and Chip Vallis are the managing partners of Covington Capital and lead an 11-person investment team. Covington Capital also currently manages Covington Fund I, Covington Fund II and Triax Growth Fund which, with New Millennium, have combined assets of approximately $465-million. On April 19, 2005, Affiliated Managers Group Inc., an asset management company, announced that it had reached a definitive agreement to acquire Covington Capital. Upon the closing of the transaction, AMG will hold 100 per cent of the equity in the firm, while Covington's senior management will have significant direct incentives in the business.
The share capital of TG consists of an unlimited number of common shares, of which 11,925,080 are currently issued and outstanding. TG also has outstanding debentures for a total amount of $1,358,965 plus interest, which shall be converted into common shares of TG before the acquisition on the basis of 4.4067 common shares for $1 of the TG debenture. Including accrued interest, these debentures shall convert into an additional 6,749,971 common shares of TG. TG also has 947,318 outstanding TG warrants that were issued to the holders of TG debentures, entitling them to acquire 4,305,990 common shares of TG at the price of 22 cents, with an expiry date in 2014. However, the warrantholders have indicated that they will not exercise the warrants and that they agree to have them terminated in writing before the acquisition.
On the basis of the unaudited financial statements for the six months ended Nov. 30, 2004, TG had total assets of $738,694, liabilities of $2,052,256, shareholders' equity of negative $1,313,562, working capital of $462,200, net losses of $152,573 and recorded revenue of $324,915. In its most recently completed fiscal year ended May 31, 2004, TG showed in its audited financial statements total assets of $723,028, liabilities of $1,886,967, a shareholders' equity of negative $1,163,939, a working capital of $361,163, net losses of $718,606, and recorded revenue of $834,426.
About the proposed transaction
On May 3, 2005, Taos and TG signed the agreement pursuant to which Taos agreed to proceed with the acquisition. The acquisition is expected to constitute the qualifying transaction (QT) for Taos as defined in Policy 2.4 of the TSX Venture Exchange Corporate Finance Manual. The QT is subject to all required regulatory approval pursuant to laws, regulations and applicable policies.
The QT will be executed by way of a share purchase agreement to be entered into between Taos, TG and the TG shareholders. The total purchase price of the acquisition will be $7.5-million (after giving effect to the conversion of the TG debentures), and will be paid by Taos by the issuance to the TG shareholders of a total of 30 million common shares of Taos at a deemed price per Taos share of 25 cents. Certain Taos shares will be subject to the escrow requirements imposed by the TSX-V.
The QT will not be subject to the approval of the shareholders of Taos but will be conditional upon the completion of a concurrent prospectus financing of Taos for minimum proceeds of $5.25-million and maximum proceeds of $6-million at a price of no less than 25 cents per unit. Each unit will consist of one Taos share and one-half of a share purchase warrant. One whole warrant will entitle the holder to purchase one Taos share from treasury at an exercise price of 40 cents for the first 12 months following the closing date and 50 cents between the 13th and the 24th month following the closing date. The minimum amount may be reduced to compensate for any private placement that could be made prior or concurrent with the prospectus financing. In connection with the prospectus financing, Taos will file with the regulatory authorities a prospectus containing all the required disclosure information concerning Taos and TG.
Following the QT and the completion of the prospectus financing (and not taking into account the exercise of any issued and outstanding options or warrants to acquire Taos shares) and assuming the minimum amount is raised through the prospectus financing, there will be a total of 59,821,985 Taos shares issued and outstanding. The current shareholders of Taos will hold approximately 12.12 per cent of the Taos shares, the TG shareholders will hold approximately 50.15 per cent of the Taos shares and the shareholders from the prospectus financing will hold approximately 35.10 per cent of the Taos shares. The total amount of Taos shares and the percentages mentioned above may change in the event of any prior or concurrent private placement with the qualifying transaction.
After giving effect to the acquisition, all of the current directors of Taos will resign, except Damian Cristiani and Anthony DeCristofaro. Vikas Gupta, Gavriel State, Jim Laird, and Sean Wise of TG, being currently directors of TG and all of which are Canadian residents, will be appointed to the board of directors of Taos. All directors of Taos will hold office until the next annual general meeting of the company unless they resign prior thereto or are removed by the company shareholders by special resolution.
The following text provides a brief description of the antecedents of the proposed directors after giving effect to the acquisition:
Mr. Gupta, is president and chief executive officer of TG and a current director.
Mr. State is chief technology officer and founder of TG and a current director.
Mr. Laird, a director, is TG's investor representative on behalf of Covington Capital. Mr. Laird joined Covington in November, 2002, after Covington's assumption of the management of the New Millennium Venture Fund. In his role as vice-president of investments, his responsibilities include analysis of new investment opportunities for the fund and assisting in the management and monitoring of the fund's existing investments. Prior to Covington, he was a managing partner with New Millennium Venture Partners, managing a high-tech focused labour-sponsored venture fund. He was also responsible for the investment activities of three CSBIF funds with the University of Toronto, the University of Western Ontario and Queen's University, a role he continues today. Prior to New Millennium, he was an institutional equity analyst with HSBC Securities and Gordon Capital. He is a chartered financial analyst and a member of the Toronto Society of Financial Analysts. He holds a bachelor of business administration degree and a bachelor of laws degree.
Mr. Wise, a director, specializes in emerging growth companies. He sits on the boards of several young technology companies, as well as the Toronto Venture Group. He was the chair of the 2005 Canadian Venture Forum selection committee and is a member of the Canadian Venture Capital Association and the Law Society of Upper Canada. He studied engineering and economics at Carleton University before going on to get his law and MBA degrees from the University of Ottawa. He helped found Ernst & Young's venture capital advisory group in Canada and now undertakes selective engagements from young technology companies looking for strategic guidance on capital raising and growth through his consulting firm, Wise Mentor Capital. He has been working closely with TG for the last 36 months and has been a director and chairman of the board since September, 2004.
Mr. Cristiani, a director, was one of the founding partners of Triad Distributors, established in 1993, which became a software distribution company selling to all the major retailers in Canada (Triad Distributors is now currently known as Jack of all Games Canada). In 1995, Mr. Cristiani founded Global Star Software, a company specialized in publishing software. In 1999, both companies were sold to Take Two Interactive Software Inc., and Mr. Cristiani continued to oversee the growth of both companies within Take Two in Canada up to 2004 in his capacity as president.
Mr. DeCristofaro, a director, is president and chief executive officer of iseemedia Inc., a company specialized in digital image content management for the Internet. He is a 25-year veteran in the computer industry. Prior to establishing iseemedia in 2002, he was president and chief executive officer of MGI Software since December, 1995. From 1991 to 1995, Mr. DeCristofaro was vice-president and general manager of AST Canada, a computer hardware company. He was also a founding board member of Delrina Corp., a public company that was subsequently purchased by Symantec. From 1987 to 1991, Mr. DeCristofaro worked as general manager at NEC Canada. Mr. DeCristofaro holds an advanced business administration degree from York University.
After giving effect to the acquisition, Taos will carry on business under the name TransGaming Inc. (or such other name as may be acceptable to applicable regulatory authorities) and the common shares are expected to continue to be listed on the exchange under the trading symbol TNG.
A finder's fee composed of $110,155 in cash and 1,321,885 Taos shares at the market value on the date of execution of the letter of Intent, namely 20 cents per share (having a value of $264,377), will be paid on the closing date of the QT to Dresden Capital Inc., a third party adviser that provided services in connection with the transaction and for measurable benefit received. Canaccord Capital Corp. will also receive 250,000 Taos shares at 25 cents per share (having a value of $62,500) upon closing of the prospectus financing as a corporate finance fee, in addition to a cash remuneration representing 8 per cent of the proceeds of the prospectus financing as well as broker warrants entitling it to purchase additional units representing 8 per cent of the units sold pursuant to the prospectus financing.
Taos and TG have both agreed that trading of the Taos shares will remain halted until the completion of the transaction.
Completion of the QT is subject to a number of conditions, including but not limited to, approval of the QT by the shareholders of TG, a satisfactory due diligence investigation, regulatory approvals, the completion of a definitive purchase agreement and the completion of the prospectus financing. Also, no adverse change in the affairs of TG must occur until the closing of the proposed QT. The QT cannot close until the required regulatory approvals are obtained and the prospectus financing is completed. There can be no assurance that the QT will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the prospectus to be prepared in connection with the prospectus financing, any information released or received with respect to the QT may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
Canaccord Capital, subject to completion of satisfactory due diligence, has agreed to act as agent for the proposed public offering. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.
FEIh Fintry Enterprises to raise up to $200,000 privately
2005-04-26 19:54 ET - News Release
Mr. Greg Andrews reports
NON-BROKERED PRIVATE PLACEMENT
Fintry Enterprises Inc. has arranged a non-brokered private placement of up to one million units at a price of 20 cents per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase an additional common share of the company at a price of 30 cents per share for a period of 12 months from closing. The net proceeds of the offering will be used for working capital purposes. The private placement is subject to NEX approval.
TNGp Taos Capital halted at the open
2005-05-04 09:14 ET - Halt Trading
Taos Capital Corp. has been halted effective at the open on May 4, 2005
WBS Streamline Web to change name, consolidate capital
2005-05-04 17:59 ET - News Release
Mr. Lance Tracey reports
At the annual general meeting held on Nov. 9, 2004, Streamline Web Broadcasting Inc.'s shareholders approved a name change and consolidation of the issued shares on a 1:3 basis. An application to change the name to Kavalmedia Services Ltd. and to consolidate the shares on a 1:3 ratio will be filed shortly with the TSX Venture Exchange.
PNDp Stirling arranges $297,500 private placement
2005-04-22 18:49 ET - News Release
Mr. Darryl Jones reports
Stirling Exploration Ltd. proposes to complete a private placement of 2.38 million common shares at a price of 12.5 cents per share. The gross proceeds of $297,500 will be used for general working capital and to identify and evaluate assets and business prospects for possible acquisition by the company.
ADIh Adriana arranges $285,000 financing; two new directors
2004-12-06 11:15 ET - News Release
Mr. Paul Fong reports
ADRIANA ANNOUNCES FINANCING AND PROPOSED DIRECTORS
Adriana Ventures Inc., subject to regulatory approval, has arranged a non-brokered private placement of 5.7 million common shares at a price of five cents per share for total proceeds of $285,000. The proceeds of the private placement will be used for general working capital of the company. There will be no finder's fees payable or warrants issued in connection with the private placement. All shares issued pursuant to the private placement are subject to a four-month hold period.
Conditional on closing of the private placement, Richard J.H. Barclay and Michael J. Beley, BSc, have agreed to serve as directors of the company.
Mr. Barclay is currently the president and director of Hemmingsen Investment Corp., a private investment and consulting company, and is chief executive officer and director of Nevada Pacific Gold Ltd.
Mr. Barclay has more than 35 years of experience in the mining industry where he has a proven record of entrepreneurial success. Mr. Barclay began his career as a prospector and co-founded Bema Industries Ltd., a private exploration and consulting firm, serving as its chief financial officer and president from 1976-1990. Mr. Barclay was involved in co-founding and managing Bema Gold Corp. as a director and chief financial officer until 1992. With a desire to continue his entrepreneurial career, Mr. Barclay co-founded Eldorado Gold Corp., where he was intimately involved in the strategic management of the company's growth from 1991 to 1998 as director, president and chief executive officer. During this period, Eldorado became an international, intermediate-sized gold producer with operations in the Americas and Europe.
Mr. Beley has more than 35 years of experience in the mining industry including the past president of the British Columbia and Yukon Chamber of Mines. Since 2001, he has been involved as a founder, director and vice-president corporate development with Polaris Minerals Corp., an industrial minerals group. Mr. Beley is also a director of Nevada Pacific Gold Ltd. and Energold Mining Ltd.
Mr. Beley's career began in British Columbia as a geologist with Phelps Dodge, and in the early 1970s, he assumed the management of Manex Mining Ltd., a Smither's-based mining and exploration service company. In 1976 Mr. Beley, together with Mr. Barclay, co-founded Bema Industries Ltd., a private exploration and consulting firm, serving as Bema's first president. Mr. Beley was also involved in co-founding Bema Gold Corp. and its predecessor companies, serving as a director and vice-president until 1992. Together with Mr. Barclay and several other individuals, Mr. Beley co-founded Eldorado Gold Corp. He served as director and executive vice-president of corporate development from 1991 to 1998. He was involved in implementing the strategic plan that spearheaded Eldorado's growth.
Mr. Barclay and Mr. Beley are each participating in the private placement and have subscribed for 600,000 common shares each. In addition, Strategem Capital Corp., a merchant bank listed on the TSX Venture Exchange, is subscribing for 2.4 million common shares in the private placement, which represents approximately 21 per cent of the issued and outstanding common shares of the company following the closing of the private placement.
Upon the appointment of Mr. Barclay and Mr. Beley, Gerard Lenoski and Glen Macdonald will resign as directors of the company. The company wishes to thank the directors for their time and energy and wish them the best in their future endeavours.
KDC Kakanda puts brakes on Congo project; board changes
2004-06-04 13:45 ET - News Release
Mr. Steve Smith reports
CORPORATE UPDATE
Kakanda Development Corp. has decided not to proceed with development of the company's Kakanda copper-cobalt tailings project in the Democratic Republic of the Congo. (DRC).
Despite the fact that conditions in the DRC have been by and large improving, intermittent conflict continues in parts of the country. Infrastructure vital to mine operation requires considerable reconstruction and it will take time to guarantee that improvements in the DRC will be sustainable.
The company will continue to monitor developments in the DRC in line with view to possibly re-enter the country, as the DRC policies for sustainable, accountable development of the country's mineral resources evolve.
Gilbert Mundela and John Tyson have resigned as directors of the company. The company thanked Mr. Mundela and Mr. Tyson for their contributions and efforts and wished them well.
OTS Otish Mountain proposes 1:3 consolidation; name change
2004-10-28 16:11 ET - News Release
Mr. Glen Macdonald reports
Otish Mountain Exploration Inc. will hold its annual shareholders meeting in Vancouver on Thursday, Nov. 25, 2004. The following disclosure is being made in compliance with Section 3.2 of TSX Venture Exchange Policy 5.8.
Share consolidation and change of name
In order to facilitate possible future financings, the board of directors of the company wishes to receive the authority of the shareholders to consolidate the common shares without par value of the company. Such a consolidation is also known as a reverse stock split. The consolidation will also be subject to TSX Venture Exchange acceptance. There are presently 4,515,822 common shares issued and outstanding. The shareholders will be asked at the meeting to approve a consolidation ratio of up to 1:3 such that there will be 1,505,240 postconsolidation common shares issued in the event that the maximum consolidation is effected, to approve a concurrent increase in the authorized number of common shares to 100 million and to alter the company's memorandum to reflect the foregoing. No fractional shares will be issued. All fractional shares resulting from the consolidation will be dropped. The company is currently seeking to complete a private placement of five million units at six cents per share, as announced in Stockwatch by news release dated Aug. 5, 2004, which private placement remains subject to regulatory approval. In the event that this placement is entirely subscribed for, the issued capital of the company will total 9,515,822 preconsolidation shares and upon effecting the maximum consolidation the company will have 3,171,940 postconsolidation common shares outstanding.
Pursuant to the policies of the TSX Venture Exchange, a company must change its name concurrently with the consolidation of its capital. Thus the board of directors of the company wish to change the company's name to "ISX Resources Inc." or to such other name as may be acceptable to the TSX Venture Exchange and the registrar of companies.
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