08:27:53 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Tosca Resources Corp
Symbol TSQ
Shares Issued 9,136,925
Close 2015-05-06 C$ 0.175
Market Cap C$ 1,598,962
Recent Sedar Documents

Tosca obtains final OK for change of business, name

2015-09-04 16:59 ET - News Release

Mr. Blair Naughty reports

HATCH INTERACTIVE TECHNOLOGIES CORP. (FORMERLY TOSCA RESOURCES CORP.) ANNOUNCES CHANGE OF BUSINESS, NAME CHANGE AND RESUMPTION OF TRADING APPROVED BY THE CSE

Hatch Interactive Technologies Corp. has obtained final approval of its change of business and name change from Tosca Resources Corp. to Hatch Interactive Technologies Corp. As previously reported, the company has acquired all of the shares of Hatchitech Technologies Corp., which will operate as the company's wholly owned subsidiary. The company will trade on the Canadian Securities Exchange under the symbol HAT. The company intends to change its business model from a mineral exploration company to a company engaged in the development, marketing and monetization of innovative mobile applications. The focus is to develop social media platforms and aggregate large numbers of mobile users, which can be leveraged and monetized over time.

The board of directors and management of the company will now be Blair Naughty, chief executive officer/director, William McGraw, president/director, Tristan Brett and Adrian Crook, directors. Alexander Helmel will act as the company's chief financial officer. The company has filed a listing statement on SEDAR and also on the CSE website that provides detailed disclosure of the company's new business and related risk factors. The CSE has issued a bulletin advising that the company's shares will be reinstated for trading at the opening on Sept. 8, 2015.

As consideration for the acquisition of Hatch, the company will issue an aggregate of 32,124,732 common shares to the principals of Hatch at a deemed price per share of 15 cents. A total of 21,819,732 shares will be held in escrow in accordance with a Form 46-201F1 escrow agreement, which provides that the shares are released from escrow over a three-year period.

The company also reports that Canal Front Investments Inc. and Naughty Capital Ltd., non-reporting companies controlled by Mr. Naughty, acquired 14,964,733 common shares in the capital of the company pursuant to the transaction, which will represent 32.8 per cent of the total issued and outstanding shares of the company postclosing. Mr. Naughty does not exercise control over any additional common shares. Mr. Naughty has filed an early warning report, which is available on SEDAR.

We seek Safe Harbor.

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