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by Stockwatch Business Reporter

The TSX Venture Exchange fell 1.86 points to 697.62 Friday, ending the week down 5.23 points. Jeremy Ford's NEX shell, Clear Gold Resources Inc. (CFA), will ask shareholders at a meeting early next week to approve its acquisition of Whale Shark Environmental Technologies Ltd. The shell plans to roll back 1:2 and then acquire its target by paying $875,000 cash and issuing five million postconsolidated shares. The cash and shares will be split evenly by Whale Shark's two founders, Vincent Cummings and Mark Orsmond. The new company will change its name to Whale Shark Environmental Technologies Ltd. and trade on the TSX-V under the suitable ticker symbol, WET.

Mr. Cummings and Mr. Orsmond founded Whale Shark in 2010. The company has a machine that collects algae and other marine growth off ship hulls before releasing filtered water back into the sea. In February, 2013, the company received a grant from Sustainable Development Technology Canada, which allowed Whale Shark to build a prototype; it has since built a second commercial-grade unit that is undergoing testing, and it anticipates building eight more machines this year. Whale Shark plans to sell its machines for $500,000 a pop to commercial divers operating in international ports such as Long Beach, Calif., and Busan, South Korea.

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