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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.40 points to 766.36 Friday, ending the week up 14.24 points. Peter Hinam's suspended capital pool shell, Turquoise Capital Corp. (TQC), has cancelled its qualifying transaction with David Loban's remote security systems company, Vigil Technologies Inc. According to the shell, it and its QT target were "unable to complete certain conditions of closing," most likely the financing requirements. Under the QT, Turquoise was going to acquire Vigil for shares, and each party needed to sell units at 35 cents to raise money for the resulting issuer. Turquoise was supposed to raise at least $2-million, while Vigil was supposed to raise up to $750,000 (no minimum was stated for Vigil). The QT plan was first announced in September, 2014. Now, Turquoise says it is "in discussions" to recover $25,000 that it had advanced to Vigil.

Vigil's Mr. Loban is a former British Army officer, now a Vancouver-based field security consultant, mostly to mining, marine and transportation companies. From 2011 to 2013, his Vigil Technologies tested its security systems at a Teck Resources Ltd. (TCK: $18.57) facility. For 10 months in 2012, the shell's Mr. Hinam was a security consultant to Teck.

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