05:46:58 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Shell Summary for Jan. 20, 2016

2016-01-20 20:09 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange fell further on Wednesday, closing down 6.63 points to 473.74. In other disappointing news, Hani Zabaneh's halted capital pool shell, Black Springs Capital Corp. (BSG), and its qualifying transaction target, Montreal tech company Exacte Communications Inc., have cancelled their planned merger. This is the three-year-old shell's second failed attempt at a QT. Black Springs does not give a reason for the cancellation. Usually, a QT falls through when the shell or the target fails to raise an agreed-upon amount of money. In the case of Black Springs and Exacte, under their letter of intent, they were supposed to sell together a modest $750,000 private placement of shares at seven cents.

Mr. Zabaneh took over as president and a director of Black Springs in February, 2015, from the geophysicist/promoter Donald Sharpe. Currently, Mr. Zabaneh is also a director of Steve Bajic's halted capital pool shell, Margaux Red Capital Inc. (MXC), which plans to acquire a quantum random-number generator from the University of Sherbrooke. Quantum random-number generation is used in data encryption (to create random, digital locks and keys that would be extremely hard to guess) and in gaming (to randomly choose, for example, the next images that will show up on a slot machine). Mr. Zabaneh is also the vice-president of corporate development for Vancouver mobile app developer Eventbase Technology Inc. and a co-founder of Vancouver investment company Orange Capital Corp.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed