Business
EarthLabs Announces Completion of Change of Business to Technology/Investment Issuer
Toronto, Ontario--(Newsfile Corp. - February 16, 2023) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: ...
About this update from Earthlabs Inc
[{"type":"text","content":"EarthLabs Announces Completion of Change of Business to Technology/Investment IssuerToronto, Ontario--(Newsfile Corp. - February 16, 2023) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (\"EarthLabs\" or the \"Company\") is pleased to announce that it has completed its previously announced change of business from a Tier 1 Technology Issuer to a Tier 1 Technology/Investment Issuer (the \"COB\") within the meaning of such terms in the policies of the TSX Venture Exchange (the \"Exchange\" or \"TSXV\").Following the sale by the Company on December 1, 2022 of all of its right, title and interest in its Exploration Technology Division (which included its shareholdings of Geotic Inc. and Ridgeline Exploration Services Inc., and its geological exploration consulting division), the principal operations of the Company currently consist of three business lines:(i) CEO.CA, a leading online community for investors and traders in junior resource and venture stocks;(ii) DigiGeoData Inc., a digital mapping SaaS (software-as-a-service) interface and mineral resource intelligence database company; and(iii) Resource Quantamental (\"RQ\"), the experimental arm of Earthlabs, creating a decision engine for investments.The business offerings of the Company have historically been attractive to junior exploration companies which often sought the Company's technical expertise but lacked sufficient capital to fund such services outright. Accordingly, the Company developed an investment division which made strategic investments in these junior companies to acquire royalties and equity, while the junior issuers benefitted from dedicated access to the Company's geology and data science expertise. On a going forward basis, the Company may, from time to time, acquire additional securities of other issuers, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current investment positions. Accordingly, the Corporation has effected the COB under TSXV Policy 5.2 - Changes of Business and Reverse Takeovers, from a Tier 1 Technology Issuer to a Tier 1 Technology/Investment Issuer. Requisite shareholder approval for the COB was obtained at a special shareholder meeting of the Company held on February 13, 2023. For further details, please refer to the press release of the Company dated December 12, 2022, ava...