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by Stockwatch Business Reporter
The TSX Venture Exchange slipped 1.02 points to 544.19 Thursday. Feisal Somji's NEX shell, Prize Mining Corp. (PRZ), plans to complete a reverse takeover of GreenScience Technologies Inc., a small organic waste management company in Toronto.
Prize has not yet determined how many shares it will issue to GreenScience's shareholders. Whatever the amount, most of them will be controlled by John Ashbee, whose family trust indirectly controls 91 per cent. GreenScience, incorporated in 2009, has built what it calls the GreenScience digester system, which processes organic waste with the help of worms munching on such treats as wilted leaves from a head of lettuce. They eat the waste and leave behind worm castings (the sophisticated word for poop), which the company can then sell as fertilizer. The company claims its digester system produces "virtually" no waste, no pollution, no noise and no odour. You simply throw organic waste in the proprietary digester system, which looks like a box, and the waste is harvested as worm castings 20 days later.
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