01:27:47 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Shell Summary for Aug. 26, 2015

2015-08-26 20:56 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 added 3.16 points to 529.70 Wednesday. Peter Hinam's halted capital pool shell, Turquoise Capital Corp. (TQC), plans to acquire David Loban's Burnaby surveillance and security company, Vigil Technologies Inc., as its qualifying transaction.

The shell will roll back 1:3, leaving it with 1,670,666 postconsolidated shares, after which it will issue 11,687,143 postconsolidated shares to the shareholders of Vigil. Turquoise will then change its name to Vigil Technologies Inc.

Vigil, incorporated by David Loban in 2010 under the name Beesecured Technologies Inc., is in the business of developing security systems -- wireless sensor networks that allow businesses to monitor sites, personnel and equipment in real-time -- for mining and petrochemical companies. When Mr. Loban founded the company, he needed a site to develop and test his company's security system, and in 2012 he nabbed a blue chipper, Teck Resources Ltd. (TCK.B: $7.36). Starting in September of that year, Teck agreed to provide financial support to Vigil to determine the feasibility of its "wireless intrusion system." That year, Teck paid $215,280. Then in fiscal 2013, Vigil improved the design of the security system and received $417,650 from Teck. At some point in 2014, Teck suspended the project and stopped financing Vigil, blaming market conditions (according to Vigil).

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