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NIA.V - Niagara Ventures Corp (Blu-Dot Beverages) Price: $0.06c Common Shares: 19,966,032 Insider Holdings: 7,057,170 (35.3%) As Per Sedi - Lots of insider buying in March 2015 that can be seen at www.canadianinsider.com -This was a capital pool which recently took over Blu-Dot Beverages for strictly shares(7.16 million). - All Capital Pool and Blu-Dot stock was raised and issued at $0.20c a share Financial + MD&A Highlights Ending November 30th 2014 Assets Cash: $1,894,233 or $0.095c cash per share Sundry Receivable: $8,521 Interest Receivable: $3,834 Loan Receivable: $100,000 Prepaid Expenses: $115,152 Total Assets: $2,121,740 Liabilities Accounts Payable: $94,490 6 Month Revenue(Prior to Blue-Dot): $14,382 Expenses: $45,887 Net Loss After 6 Months: $31,505 MD&A Highlights The Corporation was incorporated under the Business Corporations Act (Ontario) on May 25, 2012 and carries on business as a Capital Pool Company (“CPC”) in accordance with Policy 2.4 (“Policy 2.4”) of the TSX Venture Exchange (the “Exchange”). The Corporation completed its Initial Public Offering (the “IPO”) of 11,503,532 common shares at a price of $0.20 per common share for gross proceeds of $2,300,706 on August 23, 2012. Its shares commenced trading on the Exchange on August 29, 2012 under the symbol “NIA.P” Blu-Dot is a Canadian Corporation based in Oakville, Ontario. Blu-Dot is in the business of providing healthy, all natural and organic beverages to customers for everyday use in support of a healthy lifestyle without compromising taste or quality. The Blu-Dot beverages are produced using a patented formula and process. Subsequent November 30, 2014, the transaction was completed on December 5th, 2014, pursuant to the terms and conditions of a share purchase agreement dated November 24, 2014 entered into between the Corporation and the shareholders of Blu-Dot. All required and relevant disclosures with respect to the closing of this Qualifying Transaction on December 5, 2014 have been filed and are available on SEDAR The Corporation acquired all of the issued and outstanding common shares of Blu-Dot (“BluDot Shares”), on the basis of a Shareholder Equity Valuation of the Corporation of $2,550,706 for the 12,753,532 outstanding common shares of the Corporation at a price of $0.20 per share. The Enterprise Valuation of Blu-Dot was determined and negotiated at $1,537,500. This Enterprise Valuation of Blu-Dot equates to a Shareholder Equity Valuation of $1,432,500 plus adjustments of $113,796 for net working capital shortfall and other Blu-Dot debt of $141,204 less $150,000 proceeds from the issuance of new Blu-Dot convertible debt. The previous shareholders of Blu-Dot will have an opportunity to receive an additional number of common shares of the Corporation up to 33% of the shares issued to them at closing based on the achievement of specific revenue and gross profit targets for the Blu-Dot business by December 31, 2015. Following completion of the Transaction the current holders of the Corporation’s common shares hold approximately 64% of the outstanding shares of the resulting issuer and the current holders of Blu-Dot Shares hold approximately 36% of the outstanding shares of the resulting issuer. As of November 30, 2014, the Corporation had cash and cash equivalents of $1,894,233 including $774,185 in guaranteed investment certificates with a major Canadian bank. Other current assets were $227,507 and working capital was $2,027,250. For further detail, see the Corporation’s audited financial statements as at and for the year ended May 31, 2014 filed on SEDAR. Additional information about the Corporation can also be found on www.sedar.com. Ron McEachern CEO and Corporate Secretary Email: ron.mceachern12@gmail.com | ||||||||||||||
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