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 moved up a fraction to 715.87 Monday. Nasim Tyab's halted NEX shell, Vatic Ventures Corp. (VCV), plans to acquire 80 per cent of Thai potash explorer Saksrithai Development Co. Ltd. The shell must pay eight million baht (approximately $220,000 (U.S.)) to Saksrithai's shareholders. Vatic had a working capital deficit of $696,158 on Nov. 30, 2015, but it has since raised $712,000 in two private placements. As well, it is currently selling a $1-million private placement of 10 million units at 10 cents, to raise funds for acquisition costs and working capital.

A company called Red Branch Investments Ltd. holds the rights to acquire Saksrithai's shares. Vatic, which has 2,991,825 shares issued, will issue 5.2 million shares to Red Branch to acquire those rights.

Saksrithai holds two prospecting licences, which cover 32 square kilometres in the Nakhon Ratchasima province in northern Thailand. To keep the licences in good standing, Vatic must spend 50 million baht (approximately $1.4-million (U.S.)) on first-stage exploration. The shell does not specify a time limit for this exploration requirement.

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