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by Stockwatch Business Reporter
The TSX Venture Exchange gained 5.83 points to 672.00 Wednesday. Brian Bayley and Murray Sinclair's 24th capital pool shell, Norwick Capital Corp. (NWK: halted), has submitted a filing statement for its qualifying transaction, which it expects to close today. It is acquiring Converge Technology Partners Inc., a Toronto company in the business of acquiring North American tech firms. Norwick Capital will roll back 1 for 3.2, leaving it with 1,328,125 shares issued, then issue 74,355,034 shares to Converge's shareholders.
Between October, 2017, and May, 2018, Converge acquired five companies, primarily information technology service providers. They are: Northern Micro in Ottawa, Becker-Carroll in Gatineau, Corus360 in Atlanta, KeyInfo in Los Angeles and BlueChipTek in Silicon Valley. Becker-Carroll has not provided its financials, but the other four companies are all profitable. As of June, 2018, Converge and its five subsidiaries had a total of 340 full-time employees. Converge is now acquiring its sixth company, Essex Technology in New Jersey.
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