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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 533.72 Monday. Michael Blady's NEX shell, Greenock Resources Ltd. (GKR), has signed a definitive agreement to acquire BeWhere Inc., a GPS company.

Greenock will roll back 1:1.75, leaving it with 6,526,659 postconsolidated shares, and then issue 18,999,996 postconsolidated shares to the shareholders of BeWhere, after which the shell will change its name to BeWhere Inc. Owen Moore and Chris Panczuk are BeWhere's executives and largest shareholders. Their company makes weather-proof beacons for businesses to closely monitor their inventory during transport. The beacon can tell you the location of inventory and other information, including whether the inventory is being handled gently, stored in an agreed-upon temperature and if it has been exposed to light. The company is new and it is unclear if it has any customers yet.

Mr. Moore, BeWhere's chief executive officer, is the former president of Grey Island Systems International Inc., which sold GPS products designed to track fleets for governments and big companies. He remained with Grey Island until October, 2009, when it was taken over at 38 cents a share by Webtech Wireless Inc. Mr. Moore then became an executive vice-president of sales at BSM Wireless Inc., where he remained until 2014. Last month, BSM Wireless merged with Webtech Wireless Inc., creating BSM Technologies Inc. (GPS: $0.86).

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