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 lost 1.18 points to 596.93 Thursday. Forbes & Manhattan Inc.'s NEX shell, Valencia Ventures Inc., has closed its acquisition of 2292055 Ontario Inc. (doing business as Earthrenew), a company that is promoting electricity generation, cryptocurrency mining and fertilizer production. The resulting issuer began trading today on the Canadian Securities Exchange as Earthrenew Inc. (ERTH: $0.12). Its stock reached an intraday high of 16 cents before closing at 12 cents on 1.05 million shares.
Earthrenew has a facility in Strathmore, Alta., where it was producing electricity for sale to Alberta's energy grid until 2016. In that year, the company lost $572,997 on energy sales of $266,126. The following year, Earthrenew recorded no revenue. It decided not to turn on the turbine at its facility, because it figured that energy prices in Alberta were too low and that it would only lose more money if it produced power.
The remainder is available to Stockwatch subscribers.
© 2019 Canjex Publishing Ltd. All rights reserved.