One bulletin from a NEX company was in Wednesday's TSX Venture Daily Bulletins. International Silver Ridge Resources Inc. [NEX: ISG.H] is coming out of suspension, and will resume trading as of Thursday's opening.
Three news releases were sent out exclusively through Canjex Publishing on Wednesday. The first pertains to Pinewood Resources Ltd. [NEX: PNW.H], which is currently under suspension: it's an excerpt from a news story in the Vancouver Sun about Terry Alexander. The B.C Securities Commission has ruled that Mr. Alexander has violated an earlier BCSC suspension on him that "prohibited him from acting as an officer or director, or engaging in investor relations, for any B.C. company, private or public, for 20 years." He nevertheless is "involved" as a director (and possibly as an officer) with Pinewood. The finding of the BCSC are reported on here. PNW.H last traded near the end of 2004, closing at 18 cents/share.
The second release comes from Tri-River Ventures Inc. [NEX: TVR.H]. It announces the closing of a private placement of 400,000 units, at a price of 22.5 cents per unit for total gross proceeds of $90,000. Each unit contains one common share and a purchase warrant for a common share with exercise price of 45 cents/share and life of one year. TVR.H closed at 45 cents/share on Wednesday, up 15 cents/share from its previous close. This close made for a new 52-week high.
The third and final release from Canjex is about Noise Media [NEX: NMA.H] and it follows on the heels of Tuesday's revocation of a cease-trade order against Noise by the Alberta Securities Commission. It announces that the Venture has conditionally de-suspended the company in conjuction with a conditional approval for Noise to move to Tier 2 of the Venture exchange as a mining issuer, due to its acquisition of "a 100-per-cent interest in 14 mineral claims located in the Valle-de-l'Or county municipality, Courville township, Quebec, subject to a 1.5-per-cent net smelter return" in exchange for 1 million shares of Noise. The company also plans to consolidate its shares on a 1-to-4 basis, to change its name to GFK Resources Inc. and to complete two different private placements. Not specified in the news release is whether or not the 1 million shares issued for the claims was pre- or post-consolidation. The first placement has a deemed price of 8 cents/share, with gross proceeds of $100,000, and the second one has a deemed price of 18 cents/unit (containing one share and a purchase warrant with unspecified terms) and is expected to raise $550,000. The proceeds from both will "be used to carry out the recommended work program on the property and for estimated general operating expenses and administration expenses of the company for the ensuing 12 months." Whether these placements will occur pre- or post consolidation isn't specified either, but it seems reasonable to assume that the first was pre- and the second was post-. NMA.H last traded in early 2003, and closed at 4 cents/share back then.
In addition to the above items, there were also SEDAR-filed financial statements announced on Wednesday:
- The Silver Recycling Company Inc. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.
[Note: There were two other NEX companies that filed reports through SEDAR on Wednesday, but due to time constraints their summarization on this blog will be postponed until Thursday's report.]
To read about the highlighted NEX stocks for Wednesday, you can go here.
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