CCK.A soared 20c to 60c today. Check out the news release. All comments welcome.
Cervin Capital Corp -
Major transaction details
Cervin Capital Corp CCK.AShares issued 60000001998-04-07 close $0.4Wednesday Apr 8 1998Mr Richard Lange reports The company has entered into a letter of offer dated April 8 1998 and agreed to complete a major transaction which consists of the arm's length acquisition of all the issued shares of Rankin Research Corporation. Rankin is a privately owned company based in Montreal with main operations in Montreal. Rankin's principal business is to develop, manufacture and operate Boomerang, a new tracking system, capable of locating stolen vehicles within minutes. The tracking device uses cellular technology, not satellites, to pinpoint the location of a stolen vehicle anywhere in North America. In Canada, Boomerang uses the Bell Mobility network. The acquisition of the Rankin shares from the Rankin shareholders, consisting principally of Paul-Andre Savoie, Andre Boulay, Peter Lashchuk and Robert Nelson, will result in a reverse takeover of Cervin by the Rankin shareholders. The parties agreed that the purchase price for the Rankin shares shall be $3,344,000 payable by the issuance of approximately 15,200,000 class A shares of Cervin at $0.22. It is expected that the new board of directors of Cervin will consist of Paul-Andre Savoie, Andre Boulay, Peter Lashchuk, Robert Nelson and Richard Lange and four other nominees. Paul-Andre Savoie is one of the founders of Rankin and currently serves as president. Andre Boulay is the second founder of Rankin and is vice-president. The acquisition of the Rankin shares is expected to be completed concurrently and shall constitute Cervin's major transaction. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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