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 added 5.05 points to 684.88 Tuesday. Michael Thomson's halted capital pool shell, Rodeo Capital III Corp. (ROP), expects to close its acquisition of Solegear Bioplastics Inc. before the end of the year, possibly even next week. It has already submitted a filing statement and the target's broker, Euro Pacific Canada Inc., hopes to soon close a minimum $2.7-million private placement of 50-cent shares.

Rodeo Capital III will roll back its shares 1:2.75, leaving it with 1,818,181 postconsolidated shares, and then issue 19,936,347 postconsolidated shares to the shareholders of Solegear, after which the shell will change its name to Solegear Bioplastic Technologies Inc. Toby Reid, a former RBC Dominion Securities broker and also a former marketing executive, founded Solegear in 2005 and started working full-time as its chief executive officer in 2010. He will join the Rodeo Capital III board, take over as CEO and receive 1,882,809 shares. His company designs plastic packaging for customers and then outsources manufacturing to factories in North America and China. At least that is the plan, assuming it finds some paying customers. Solegear has no revenue yet but it says it has received two commercial purchase orders, one from an unnamed multinational retailer, and the other from an unnamed large residential and commercial plumbing parts supplier. So far, the company claims to have an "estimated sales pipeline of $4.5-million."

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