This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.74 points to 810.55 Thursday. Dr. John Veltheer's halted shell, Lateral Gold Corp. (LTG), will hold a shareholders meeting on Oct. 11 to seek approval for its acquisition of CANHaul International Corp. The target is a logistics software company in Calgary. The shell has filed a management information circular for the meeting. To acquire CANHaul, Lateral Gold will roll back 1 for 4, leaving it with 2,547,741 postconsolidated shares issued, then issue 15,210,462 postconsolidated shares to CANHaul's shareholders. Currently, the shell is also selling a $5-million prospectus offering of subscription receipts at $1.05. Each receipt will convert into one postconsolidated share on closing of the acquisition. The resulting issuer will use the financing proceeds for sales and marketing, research and development, and other expenses.

CANHaul's main product is Trakopolis, a software platform (sounds so much better than "computer program") that enables companies to check the status of their inventory, trucks and drivers in transit. Users log in to their accounts on the Trakopolis website or mobile app, where they can view details such as the temperature of their products, the location of their trucks and the number of hours their drivers have been on the road. CANHaul charges a subscription fee and also earns revenue from selling the hardware that goes into the trucks. In the fiscal year ended June 30, 2016, it lost $4.19-million on total revenue of $4.75-million. In fiscal 2015, it lost $4.63-million on total revenue of $6.16-million.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS