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by Stockwatch Business Reporter

The TSX Venture Exchange increased a fraction to 692.45 Friday, ending the month down 3.55 points. Shell packager and stock promoter David Schmidt will ask shareholders of his Oceanside Capital Corp. (OCC) at a meeting on Monday to approve its amalgamation with Gaming Nation Acquisition Corp., and its subsequent acquisitions of Guru Fantasy Reports Inc. and Stevo Design Inc. Oceanside will then change its name to Gaming Nation Inc., become a tech company focused on 50/50 raffle tickets and fantasy sports, and trade under the suitable ticker symbol, FAN. It anticipates completing this deal on or about June 4.

Oceanside will roll back its shares 1:2, leaving it with 5.2 million postconsolidated shares, and then issue 27,796,266 postconsolidated shares to the shareholders of Gaming Nation Acquisition. Immediately following the amalgamation, the new company, Gaming Nation Inc., will acquire Guru Fantasy Sports and Stevo Design. For Guru, Gaming Nation will pay $1.5-million (U.S.) cash, a $1.25-million (U.S.) promissory note payable over four years, plus 250,000 postconsolidated shares. For Stevo Design, Gaming Nation will pay $5-million (U.S.) cash and issue 500,000 postconsolidated shares plus an additional 860,366 postconsolidated shares to two executives as a signing bonus. When the transaction closes, the new company will have 34,606,632 shares outstanding plus debentures that will be convertible into 8,888,889 shares.

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