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by Stockwatch Business Reporter

The TSX Venture Exchange added 5.64 points to 694.15 Friday, ending the week down 8.28 points. Roy Sebag's BitGold Inc., the Toronto start-up that allows consumers to buy gold on-line and then either save it or spend it, expects to go public on the TSX-V next week through Mr. Sebag's shell, Loma Vista Capital Inc. (LOV: halted). The company will change its name to BitGold Inc. and trade under the fitting ticker symbol, XAU. According to Loma Vista documents, the shell completed the reverse takeover on April 29; it is now waiting for final TSX-V approval. Mr. Sebag recently said his company has already set its sights on listing in Hong Kong or Singapore later this year or early next year.

BitGold has raised more than $11-million through a series of private placements in its preparations of going public. Most recently, on April 22, it closed a smaller $579,600 private placement of 644,000 shares at 90 cents, no warrants or options attached. There were 115 subscribers, of which 20 reside in British Columbia. This private placement had a delightfully equal distribution that prevented investors in B.C. from competing with one another for who would receive the largest allotment. Of those 20 subscribers, each acquired 5,600 shares for $5,040. The subscribers included Robert Cross, the chairman of B2Gold Corp. (BTO: $1.91) and Bankers Petroleum Ltd. (BNK: $3.30), as well as Vancouver architect Aaron Urion and his fiancee Heather Thompson, and also Tommy Humphreys of CEO.ca.

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