Time again to get your picks in for the month.
Most of us get one pick. So make it a good one.
Two picks and kudos to the winners of March picks, Whitetail with EKG and Houndog for RJX.A
VRZ.V fell off the cliff...thats what happens when you get 4000 barrels per day of...H2O. Looking for a recovery. That is my pick for May.
Speaking of falling off a cliff.. . this five year chart for CINRAM ranks up there with YELLOW MEDIA
SO MUCH FOR INCOME TRUST..
Maybe that,s it ..the general malais in the markets lately is just a lack of trust. The retail investor just does not trust this system any more!
Some of my friends just do not beleive any thing in the markets is legit anymore. Jesse Ventura has more cred with them than Buffett, Branknackey..(wobbley pop kicking in)
Gates or Harper er...anyone.
Well I am still in... that's gotta prove something...
April 30, 2012 22:38 ET
TORONTO, ONTARIO--(Marketwire - April 30, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. ("Mint") (TSX VENTURE:MIT)(PINKSHEETS:MITJF) announced today that the Company has signed a Letter of Intent and substantially completed due diligence on the acquisition of the business assets, trading names, customer lists, merchant agreements, client and third party telecoms contracts, and goodwill of one of the UAE's leading mobile POS e voucher network company's, ePAY, from its current owners Global Business Services ("GBS"), a leading UAE telecom, multimedia and premium added value services company.
ePAY's merchant network currently processes in excess of $160,000,000 in mobile airtime top up per annum through the GBS/ePAY's proprietary platform solution and over the last 5 years has consistently delivered in excess of $1,500,000 of Net Profit to its owners.
This business will be acquired by a new subsidiary of Mint, to be known as Mint Merchant Services and its offerings will integrate with those of Mint Money including offering mobile top up to Mint's entire payroll cardholder base in the UAE and eventually beyond.
The financial terms of the transaction remain confidential at this time but include both a cash component and an issue of shares to the Vendor at a significant premium to the current average trading price of Mint's common stock. The transaction structure will be announced in detail following execution of unconditional contracts.
Mint Executive Chairman, Chris Hogg said today, "This is a unique opportunity for Mint to own and deliver its own mobile airtime top up range of products to its payroll card customer base who we know through survey data, in addition to sending money home, spend in excess of $150,000,000 per annum in airtime on their mobile devices. I am particularly pleased that a large proportion of the acquisition consideration is in the form of Mint stock as the Vendor shares in Mint's enthusiasm for our current rate of growth and the opportunity of having our own mobile top up business to add to our growing cardholder base."
Nabil Bader, Mint CEO said today, "This acquisition will add cash flow and EBITDA straight out of the gate for Mint Money which together with the micro loan product we are launching this month and the plans we have for an expansion of ePAY's range of offerings is good news for Mint as we continue to grow our reputation as the "go to" company for the unbanked workers in our core market. In addition, to marketing our own cardholder base there are also a number of operational synergies to be gained from the combination of this business with the Mint Money front office and the Mint Global Processing back office."
May 01, 2012 07:30 ET
TORONTO, ONTARIO--(Marketwire - May 1, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Intertainment Media Inc. (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) ("Intertainment") is pleased to provide an update on the spin out of Ortsbo Inc. ("Ortsbo") previously announced on February 28, 2012. Ortsbo has engaged M Partners Inc. ("M Partners") to act as its financial advisor and sponsor in connection with the Qualifying Transaction ("QT") with Capstream Ventures Inc. ("Capstream") (TSX VENTURE:CSP.P) and concurrent private placement of subscription receipts (the "Offering"). The syndicate will also include Salman Partners.
The Offering will be in the form of subscription receipts of Ortsbo at a price of $7.00 per subscription receipt, which will convert into units (the "Units") of Ortsbo at the closing of the QT. Each Unit will consist of one common share and one half of one common share purchase warrant of Ortsbo, with each whole warrant being exercisable at $10.50 for a period of 24 months from closing of the QT. Proceeds from the Offering will be placed in escrow and will be released to the resulting issuer upon closing of the QT (the "Resulting Issuer") and the listing of the Resulting Issuer's shares on the Toronto Stock Exchange. The Units will be exchanged for similar securities of the Resulting Issuer, on a one-for-one basis, pursuant to the QT (with the exercise price applicable to the warrants to remain at $10.50 subsequent to such exchange).
Ortsbo has entered into a non-binding term sheet setting out the terms for a lead order for a minimum of $20,000,000 from a strategic investor in connection with the Offering. The strategic investor is an international investment fund with a focus on investing in emerging growth companies. The strategic investor (and any other subscriber that invests a minimum of $20,000,000) will receive one full common share purchase warrant for each Unit purchased under the Offering (rather than one half of one common share purchase warrant of Ortsbo). All of the securities issued to the strategic investors will be exchanged for similar securities of the Resulting Issuer, on a one-for-one basis, pursuant to the QT (with the exercise price applicable to the warrants to remain at $10.50 subsequent to such exchange).
In connection with the Offering, a cash commission of 7% of the aggregate gross proceeds will be paid by Ortsbo to the finders and/or agents (collectively "Agents"). In addition, upon closing of the Offering, the Agents will receive such number of options (the "Compensation Options") equal to 7% of the total number of Units issued in connection with the Offering. Each Compensation Option will entitle the holder thereof to acquire one unit of Ortsbo (each a "Compensation Unit") exercisable at the offering price of $7.00 for a period of 18 months from the closing date of the QT, with each Compensation Unit consisting of one common share and one half of a common share purchase warrant of Ortsbo (each a "Compensation Warrant"). Each whole Compensation Warrant will entitle the holder thereof to acquire one common share at a price of $10.50 for a period of 18 months from the closing date of the QT. The Compensation Options will be exchanged for similar securities of the Resulting Issuer, with identical exercise prices, pursuant to the QT.
The closing of the Offering is subject to the receipt of all necessary regulatory and stock exchange approvals.
The Special Meeting of Intertainment shareholders has been updated and is expected to take place on or about Thursday, June 14, 2012. Details of location and time will be announced shortly.
Further to the press release of Intertainment issued on February 28, 2012, Intertainment provides the following update with respect to the QT.
In connection with the QT and in addition to the common shares of Capstream ("Capstream Shares") to be issued to subscription receipt holders under the Offering, it expected that Capstream will issue 38,478,663 Capstream Shares as follows:
All the above noted Capstream Shares will be subject to various escrow and release conditions pursuant to the Plan of Arrangement and regulatory escrow requirements.
Assuming completion of the Offering amount of a minimum of $20,000,000, the strategic investor (and any other subscriber that invests a minimum of $20,000,000) will be issued a total of 2,857,143 Capstream Shares and 2,857,143 common share purchase warrants of Capstream in connection with the QT. All other subscribers under the Offering will receive one common share and one half of one common share purchase warrant of Capstream in connection with the QT.
Following the closing of the QT, the business of the Resulting Issuer will be that of Ortsbo and it is expected the Resulting Issuer will change its name to "Ortsbo Corporation".
Full particulars of the QT and the Plan of Arrangement will be provided to shareholders of Intertainment, Ortsbo and Capstream in a joint management information circular to be mailed to shareholders in advance of the QT. The QT will be subject to disinterested shareholder approval of Intertainment shareholders of the Plan of Arrangement, and other standard terms and conditions, including listing of Ortsbo on the Toronto Stock Exchange. Final acceptance by the Toronto Stock Exchange is subject to the filing of various documents and information, including evidence of requisite shareholder approvals.
M Partners, subject to completion of satisfactory due diligence, has agreed to act as sponsor in connection with the QT. An agreement to sponsor should not be construed as any assurance with respect to the merits of the QT or the likelihood of completion.
Trading in the .065-.07 cents range (cad)
-U.S. trading symbol is CDNMF
Canadian Int'l acquires 50% of Miller graphite project
2012-05-01 11:37 ET - News Release
Mr. Michael Schuss reports
ONTARIO LARGE FLAKE GRAPHITE PROJECT ACQUIRED
Canadian International Minerals Inc. has joined a prospecting syndicate focused on graphite exploration in Northwestern Ontario. The company has financed the initial acquisition of the syndicate and has thereby secured a 50-per-cent interest in the Miller graphite project. The syndicate has staked 15 claims comprising 240 hectares which include the Miller graphite occurrence in Foch township. The Miller graphite occurrence is described in a report by Lorne Luhta in a 1989 report of Timmins resident geologist, Ontario Geological Survey.
Samples of graphite collected by the Timmins resident geologist staff returned analysis of 30.4 per cent and 30.3 per cent carbon. Flake size averages one millimetre but some flakes up to three millimetres. The sample may have the potential of producing high-grade flakes in the minus-300-micron to plus-150-micron fraction.
The underlying geology consists of an east-west-striking sequence of quartzites and gneisses. Interbedded with the gneisses are graphite-rich beds of medium-grained granular textured quartzites.
The historic showings and new graphite occurrences have been located by the syndicate which coincide with resistivity-low airborne geophysical anomalies (OGS map 60-028, 2001). The claims are accessible by forestry roads and further evaluation will be conducted after spring breakup. It is the intention of the syndicate to make the property available for option/joint venture to third parties.
The technical data in this news release have been reviewed by Thomas Hasek, PEng, a qualified person under the terms of NI 43-101. The transaction is subject to the acceptance of the TSX Venture Exchange.
We seek Safe Harbor.