Calgary-based DeepMarkit Corp. (TSX-Venture:MKT) saw its shares and fortunes skyrocket on the last Monday of June, amid news it has entered into a strategic investment agreement with Hong Kong Datang Investment Holding Corp., an arm's length, private Hong Kong investment company.
Monday’s news release outlining the agreement said HK Datang, subject to certain conditions, will purchase 29,527,120 post-consolidation common shares at a price of $0.075 per share for total subscription proceeds of $2,214,535, including a 10:1 consolidation of DeepMarkit's outstanding common shares
Following completion of the Transaction, HK Datang will own approximately 72% of the outstanding post-consolidation common shares and accordingly, will result in a change of control of DeepMarkit.
As for the shares investors currently own, they doubled in price nearing noon ET to one cent, on volume of 2.4 million shares.
