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Shell Summary for Feb. 12, 2015

2015-02-12 20:59 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange added 2.22 points to 692.44 Thursday. Laurie Sadler's halted capital pool shell, Valiant Minerals Ltd. (VTM), completed its qualifying transaction yesterday by acquiring Convalo Health International Corp. (CXV), which owns a rehab clinic in Hollywood called BLVD Treatment Center.

Valiant rolled back its shares 1:2, leaving it with 5.9 million postconsolidated shares, after which it issued 71,089,550 postconsolidated shares to the shareholders of Convalo. The health care company, which plans to open more clinics this year and also acquire other rehab facilities, was set to begin trading today, but before the opening bell Convalo requested a halt for news that it has yet to deliver. The company's two founders, Michael Dalsin and Roger Greene, have been appointed to the board of Convalo and are the largest shareholders. Mr. Dalsin, 43, also the company's chief executive officer, owns 11,768,000 shares. Mr. Greene, 59, owns 8,612,000 shares. These two live in Santa Monica, Calif., and are former managers of Stanmore Capital Partners Inc., a private equity firm in California. Nowadays they are promoters and large shareholders of Patient Home Monitoring Corp. (PHM), a health care company with operations in the United States that has become one of the most popular stocks on the TSX-V. Today it slipped two cents to $1.05 on 2.71 million shares, making it the second most active stock on the junior exchange. It traded at about 25 cents one year ago. Mr. Dalsin and Mr. Greene each have an option to buy 1.5 million Convalo shares at 10 cents, plus they own Canons Park Advisors Inc., a management firm with an option to buy three million Convalo shares at 10 cents. The options expire in 10 years.

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"Another large shareholder of this company is Fabrice Taylor, an Edmonton stock picker and newsletter writer who controls 3.04 million shares through his Nimble Capital Inc." Promotion coming early to this one?

Posted by Phat Dean at 2015-02-13 13:40


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