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Shell Summary for Oct. 5, 2015

2015-10-05 20:47 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange added 4.35 points to 529.91 Monday. Gunther Roehlig's halted NEX shell, Neoteck Solutions Inc. (NEO), plans to acquire Segra Biogenesis Corp., another hopeful medical marijuana producer that has applied to Health Canada for the coveted MMPR licence, and then will transfer to the Canadian Securities Exchange.

The shell will roll back its shares 1:2.8, leaving it with 13,593,202 postconsolidated shares, and then issue 10,998,402 postconsolidated shares to the shareholders of Segra, after which Neoteck will change its name to Segra Naturals Inc. W. Todd McMurray, Segra's controlling shareholder, will take over as the chief executive officer and join Neoteck's board when this transaction closes. Mr. McMurray is a stock promoter who recently restructured his Artha Resources Corp., originally a capital pool shell that he listed in June, 2006. Artha became a uranium explorer, then a rare earths explorer, then a gold explorer, and earlier this year it became the vehicle used to launch Centenara Mining Corp. (CT: $0.03), which owns the Argentinean assets of Cardero Resource Corp. (CDU: $0.02). Mr. McMurray also previously worked in the same business as Segra, formerly as the vice-president of business and corporate development at Wildflower Marijuana Inc. (SUN: $0.11), which last year applied to Health Canada for an MMPR licence. It is still waiting.

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