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by Stockwatch Business Reporter

The TSX Venture Exchange added 2.75 points to 696.19 Monday. Paul Matysek's halted shell, Dundarave Resources Ltd. (DDX), will try to sell a $2-million offering of eight million units at 25 cents so it can complete its reverse takeover of Perfect Lithium Corp. Last Friday, Dundarave filed a short form offering that outlines the details of the financing. Mackie Research Capital Corp. will handle the offering. Each unit will comprise one share and one-half warrant; whole warrants will be convertible at 40 cents for two years. The shell has not said when it expects to complete the deal.

Dundarave will roll back its shares 1:2, leaving it with 5,142,994 postconsolidated shares, and then issue 27,425,640 postconsolidated shares to the shareholders of Perfect Lithium, after which the shell will change its name to Nano One Materials Corp. The target, founded in 2011, says it has developed patent-pending technology for low-cost production of nano-structured materials used in lithium ion batteries. The company says it has six patents pending in the United States, five worldwide and one in Taiwan. Like most companies that have patent-pending products, there is little information available about the company, but we do know that so far Perfect Lithium has generated no revenue, and we can assume that its prospects are sensational.

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