Business
EarthLabs Announces Proposed Change of Business to Technology/Investment Issuer
Toronto, Ontario--(Newsfile Corp. - December 12, 2022) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: ...
About this update from Earthlabs Inc
[{"type":"text","content":"EarthLabs Announces Proposed Change of Business to Technology/Investment IssuerToronto, Ontario--(Newsfile Corp. - December 12, 2022) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (\"EarthLabs\" or the \"Company\") is pleased to announce that it is proposing a change of business from a Tier 1 Technology Issuer to a Tier 1 Technology/Investment Issuer (the \"Proposed COB\") within the meaning of such terms in the policies of the TSX Venture Exchange (the \"Exchange\" or \"TSXV\").Summary of the Proposed COBFollowing 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: DigiGeoData Inc., a digital mapping SaaS (software-as-a-service) interface and mineral resource intelligence database company;CEO.CA Technologies Ltd. (\"CEO.CA\"), a leading online community for investors and traders in junior resource and venture stocks; and Resource Quantamental Corp. (\"RQ\"), a computer application which creates 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 is proposing to effect the Proposed 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. The Company is required to obtain shareholder approval for the Proposed COB, which it proposes to seek at a special shareholder meeting to be held on February 3, 2022 (the \"Meeting\")....