News Releases From NEX Companies For October 24th

There were no news releases from any NEX company that were picked up by Marketwire on Wednesday. There was, however, one bulletin from a NEX company that was at the bottom of Wednesday's TSX Venture Daily Bulletins. Pursuant to an earlier shareholder's resolution, eReservations Systems Corp. [NEX: RSS.H] is undergoing a name and symbol change, to Cobre Exploration Corp. [NEX: CXV.H] The name and symbol change are effective as of the start of trading on Thursday; no changes in the company's capital have been made. Canjex Publishing has a webbed copy of this bulletin. RSS.H is currently halted; it last traded on September 26th, when it closed at 36 cents/share.

Three news releases from NEX companies were sent out exclusively through Canjex on Wednesday. The first came from Gainey Resources Ltd. [NEX: GRD.H]; it announces the calling of a special shareholder's meeting on December 21st to vote on a proposed 2-for-1 consolidation and a name change for the company. If shareholder approval for those two changes is secured, then TSX Venture Exchange approval will still be needed before they're implemented.

The two others both come from ST Systems Corp. [NEX: SYT.H]. The first simply announces the revocation of the Alberta Securities Commission's cease-trade order against ST Systems. The second goes into far more detail, while also announcing that both of the cease-trade orders against ST, from the Alberta and B.C. Securities Commissions, have been revoked, leaving none outstanding. The rest of the release notes the cause of the cease-trade orders - failure to file financial statements in a timely manner - and explains the background: specifically, the trouble that the company got into in 2000 and 2001. It also notes that the company has been "dormant" during the period for which the financial statements were not filed. It further notes, "In October, 2006, the corporation engaged Emprise Capital Corp., a private merchant banking company located in Vancouver, B.C., to assist in its reorganization, and on March 22, 2007, appointed Scott Ackerman, chief executive officer of Emprise, as president of the corporation, and reconstituted the board of directors. The board of directors now consists of Jeff Durno, Wallace Campbell and John Ross." The end of the release says that ST Systems "is now actively seeking new business opportunities." As of now, SYT.H is still suspended from trading, and hasn't traded at all in about five years.


To read about the highlighted NEX stocks for Wednesday, you can go here.