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A second acquisition announcement... plus BOD changes... and of course... the stock is halted again...
One of these days... I think they will get it right...???
And news too...!!! Guess they weren't sitting idle... while going through their... audit procedures...
Ok... back up... and trading... guess the acquisition didn't pan out... so now plan B... whatever that is...???
Cameo Resources to resume at the open Nov. 27
Last Close 8/11/2017 $1.34
Friday November 24 2017 - Resume Trading
Effective at the opening on Monday, Nov. 27, 2017, the securities of Cameo Resources Corp. will resume trading. Further to the exchange bulletin dated Aug. 22, 2017, a news release was issued on Nov. 16, 2017, announcing that the company will not be proceeding with its proposed transaction with Pinot Trading Ltd.
I'm looking for something... anything... hopefully... in November...???
I wonder how long... it takes for all the paper work to process...???
Finally some news... and now more waiting...
VANCOUVER, British Columbia, Aug. 22, 2017 -- Cameo Resources Corp. (TSX Venture:CRU) (OTC:SIDNF) (the “Company”) is pleased to announce that the company has signed a letter of intent dated August 12, 2017 to acquire all of the issued and outstanding shares of Pinot Trading Ltd., a Bulgarian corporation (“Pinot”). If completed, the business combination (the “Transaction”) will constitute a Change of Business and Arm’s Length Transaction pursuant to the policies of the TSX Venture Exchange (the “Exchange”) and management anticipates that the resulting issuer (the “Resulting Issuer”) will be listed as a Tier 1 Industrial Issuer.
Information about Pinot Trading Ltd.
One of the largest smartphone and telecom peripheral hardware B2B suppliers in eastern Europe.
Reported audited revenues (IFRS Bulgaria) of CAD$111,000,000 (today’s exchange rate)
2014 – 2017 Pinot moved a total of over 1,000,000 telecom units.
Retaining a global footprint covering Asia, Europe, Africa, The Middle East and South America.
Entered the blockchain and digital currency realm during 2016: Visit www.pinotcoin.com
Actively developing applications and platforms to support crypto currencies.
Developing European regional crypto currency fund transfer App.
Vertical integration into Pinot’s unique global hardware footprint is a necessity and natural progression.
Pinot, founded in 2003, is a Bulgarian corporation with 5,000 common shares issued and outstanding. Pinot is a telecom hardware supplier and reseller of brand name smartphones with its head office located in Plovdiv, Bulgaria. The company is one of the largest European resellers of Apple Inc., Samsung Electronics Co Ltd and Huawei Culture Co Ltd. From 2014 through 2017, Pinot resold over 1,000,000 telecom units to its markets and distributes products in Asia, Europe, Africa, the Middle East and South America. Pinot’s main suppliers include Apple Eastern Europe (Apcom Budapest), and Samsung distributors (South East Adriatic district - Croatia, Serbia, Romania).
Pinot also has a software division that has developed cybersecurity and blockchain applications for the last two years. Revenues from this division comprised slightly less than ten percent of total revenues year-to-date in 2017 but are growing month over month. Two of the software offerings are blockchain and enterprise based products and are currently in use by customers in Asia, the Middle East and Europe. In order to leverage its hardware sales, Pinot has developed and intends to release a cryptocurrency called the Pinotcoin to address the need for money transfers, prepaid phone recharging and electronic purchasing by the unbanked, especially in Africa. Information on all products can be found at Pinot’s website at www.pinotglobal.com and www.pinotcoin.com
The market for cryptographic currencies has increased to over U$100 billion as of June 11, 2017 and continues to grow, but there are limited ways for investors to gain access. -Techcrunch.com June 7, 2017.
Based on financial statements audited in accordance with IFRS (Bulgaria) for the year ended December 31, 2016, Pinot had revenue of $110,685,000 (2015 - $122,136,000), expenses of $110,790,000 (2015 - $121,641,000), profit of $662,875 (2015 - $1,462,000) and net income of $632,457 (2015 - $1,424,943). Amounts above are converted into Canadian dollars based on today’s exchange rate of $1.00 Canadian Dollar to $1.30 Bulgarian Lev.
The principal shareholder of Pinot is Atanas Mihaylov. Mr. Mihaylov is a resident of Bulgaria and is the Chief Executive Officer of Pinot who holds 50% of Pinot’s issued and outstanding shares.
“We are very excited to have found and developed a relationship to Pinot to create a comprehensive and sustainable business model that is focused on enhancing joint company and shareholder value. We strongly believe that we can develop and finalize an agreement that will benefit all stakeholders,” stated Akash Patel, President of Cameo Resources Corp.
Information Concerning the Proposed Transaction
At this time, the parties continue to negotiate the material terms of the transaction, including the amount of the proposed consideration, how the consideration will be paid, and the identity of the directors and executive officers of the Resulting Issuer. The letter of intent is generally non-binding except for specified provisions thereof, including a binding exclusivity clause, whereby each party has agreed to exclusively negotiate and pursue a transaction solely with the other party until the termination date as set out in the letter of intent.
Management does not expect that the proposed transaction will require shareholder approval of the Company in accordance with Section 4.1 of Policy 5.2 of the Exchange, as the transaction is not a Related Party Transaction, the Company is without active operations, the Company is not and will not be subject to a cease trade order and will not otherwise be suspended from trading on completion of the Transaction, and shareholder approval of the Transaction is not required under applicable corporate and securities laws.
The Transaction is subject to the parties successfully negotiating and entering into a definitive agreement. In addition, the completion of the Transaction is subject to the approval of the Exchange and all other necessary regulatory approvals. It is also subject to additional conditions precedent, including shareholder approval of Pinot if and as required under applicable corporate or securities laws, satisfactory completion of due diligence reviews by both parties, approvals of the boards of directors of the Company and Pinot and certain other conditions customary for transactions of this nature.
Trading in the Company’s shares will remain halted pending the completion of the Exchange’s review of the proposed Transaction and the filing of all documents required by the Exchange. The Company will issue a further news release upon entry into a binding agreement, and when the Exchange has completed its review and received the necessary documentation, following which it is anticipated that trading in the Company’s shares will resume. There can be no assurance that trading in the Company’s shares will resume prior to the completion of the Transaction.
Sponsor
Management anticipates that the proposed Transaction will be subject to the sponsorship requirements of the Exchange. If required, a sponsor will be identified at a later date and will be announced in a subsequent press release of the Company. An agreement to sponsor should not be construed as an assurance with respect to the merits of the transaction or the likelihood of completion of the proposed Transaction.
On behalf of the Board of Directors,
CAMEO RESOURCES CORP.
“Akash Patel”
Akash Patel
President
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. 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 management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
This press release contains forward-looking statements. Forward-looking statements are projections and are subject to various risks and uncertainties. Forward-looking statements in this press release include those concerning the Company’s entry into a definitive agreement and the closing thereof. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) inability to agree on material terms; (ii) receipt of corporate and regulatory approvals; (iii) adverse market conditions; and (iv) and risks disclosed in the Company’s periodic disclosure documents filed on SEDAR. Actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are based on estimates and opinions of management which management believes were reasonable on the dates made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
For further information, please contact
Akash Patel
President
Email: akashp006@gmail.com
Phone: 604-446-6440
www.cameoresources.com
Source: Cameo Resources
Still zero volume... and the price... has gone up...
Funny... close to zero volume... but the price keeps going up...
Well... hasn't been much to talk about... no volume until today... and only 17k shares at that... but never know... things may be in the making...
CAMEO RESOURCES CORP. ANNOUNCES PRIVATE PLACEMENT AND SHARES FOR DEBT TRANSACTION
Cameo Resources Corp. intends to undertake a private placement financing of up to four million units at a price of 25 cents per unit for gross proceeds of up to $1-million. Each unit will consist of one common share in the capital of the company and one share purchase warrant, and each warrant will entitle the holder to purchase one additional share at a price of 75 cents per share for a period of three years from closing of the financing. Proceeds of the financing are anticipated to be used for general working capital.
The company is also pleased to announce that it intends to issue 1.7 million shares at a deemed price of 25 cents per share in settlement of outstanding debt in the amount of $425,000 to two arm's-length creditors. The company anticipates that the financing and the shares-for-debt transaction will close concurrently.
All securities issued in the financing and shares-for-debt transaction will be subject to a statutory hold period expiring four months and one day after closing of each. Completion of the financing and the shares-for-debt transaction is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
Yep... we'll have to wait and see just how it plays out... supposedly some good things are going into the company... but hey... reverse spits... never have a good ring to them... IMHO...
SIDNF one for 25 reverse split:
http://otce.finra.org/DLSymbolNameChanges
Mining or Cannabis...??? Doesn't matter... lets hear something... soon...!!!
And news of anything... right now... would be a good thing... IMHO...
Share price... holding between... the high .01's and high to low .02's/.03's... on low volume...
SIDNF went from mining Cobalt... To Cannabis... got halted... got unhalted... and now totally quiet...???
Be nice to see them get something on track... and keep it on track...
One month into the New Year... fingers tapping on table... is anything happening behind the scenes... with SIDNF...???
Happy New Year to you too BB and all here. $$$SIDNF. gg
And a Merry Christmas Morning... to all...
A New Year... shortly to follow...
Wishing Everyone a Happy Thanksgiving...!!!
And a good start to the Holiday Season... is a reflection on the Wonders of Life... and all that there is to be Grateful... and Thankful... for...
Many Blessings to All...
some .046's bought today... things might be getting interesting around here... hope so anyway...
Is this still applicable...???
The Canadian side was up and trading today... I heard they were back up at 10:00am...
I think the halt on the stock... rained on their parade... but it's back up and trading tomorrow... we'll see what comes of it all...
Got a email last night paid promoter didn't work I see
Ahhhhhhhh.... Really...........???
Not many posts... or any new news releases... or really... anything...
Who would be pumping it...???
This will be pumped tomorrow
This will be pumped tomorrow
Last Friday... was a good day here... maybe another good day today...???
One can always hope...
It's good to see some news out... exploring the prospects of investing in the Washington State pot industry...
Cool...
Cobalt... an update would be nice...
I guess it will be awhile yet...
But it didn't happen yesterday... maybe today...
And I believe they will in due time...
I'm guessing... they just need to find... the right new project...
It may be a bit yet... but I think one of these days... we see some signs of life...
Maybe something (s) are about to get started here...??? On watch... with me...
For those who may not have seen this last week
Cameo Resources starts looking for more projects
2016-07-26 09:22 ET - News Release
Mr. Akash Patel reports
CAMEO RESOURCES ACTIVELY SOURCING NEW PROJECTS FOCUSING ON COBALT, GRAPHITE, URANIUM, GOLD AND LITHIUM
Cameo Resources Corp. has commenced actively searching for additional projects. These new areas have been narrowed down to cobalt, graphite, uranium, gold and lithium. At this time no new project has been identified or completed.
Akash Patel, president, stated: "With new management in place, the board has a new perspective and a business model. The board can now focus on narrowing potential acquisitions so we can close on a new project in the near future. We believe there is ample room for growth and opportunity to increase shareholder value with a new and exciting acquisition."
© 2016 Canjex Publishing Ltd. All rights reserved.
It has been quiet long enough... hoping the silence is broken soon...
I must admit it may be time to sell and move on, this doesn't appear to be going anywhere soon.
Another month has passed, price has crept up. I think we are close to finding out what the new direction is.
Over a month since changes to the Board and the CEO. Must be close to seeing news about future plans.
From my experience when a shell company starts appointing new Directors invariably the Co is about to reinvent itself again. Watching with interest.
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