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by Stockwatch Business Reporter
The TSX Venture Exchange slipped a fraction to close at 807.87 Wednesday. Ian Burns's halted capital pool shell, Montreux Capital Corp. (MRX), has submitted a filing statement for its qualifying transaction with a Colorado medical device company, Assure Holdings Inc. The shell will roll back 1 for 3, leaving it with 4,136,333 postconsolidated shares issued, then issue 30,392,060 postconsolidated shares to its target's shareholders.
Assure Holdings, through its wholly owned subsidiary, Assure Neuromonitoring LLC, provides equipment and technical services for monitoring the nervous system during surgeries, particularly surgeries involving the brain or spine. The company operates mostly in Colorado, with plans to expand throughout the Midwest. In 2016, it earned $4.01-million (U.S.) on revenue of $5.52-million (U.S.). This was the first year in which it had revenue. On March 31, 2017, Assure Holdings had working capital of $4.82-million (U.S.). This includes the proceeds from a $3.16-million private placement of 6,392,060 subscription receipts at 50 cents, which Assure Holdings closed in early March. The resulting issuer will use the financing proceeds mainly for marketing and business development.
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