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by Stockwatch Business Reporter
The TSX Venture Exchange dropped 18.61 points to 784.22 Wednesday.Zula Kropivnitski's halted Spirit Bear Capital Corp. (SBG: $0.29) has firmed up plans to acquire FinX Solutions Inc. as its qualifying transaction. Spirit Bear, with 9.4 million shares outstanding, plans to issue 22.1 million shares to the holders of FinX Solutions. First, Spirit Bear will need to change its name to FinX Blockchain Solutions Inc., and sell $2.62-million worth of subscription receipts at 75 cents.
FinX Solutions was created by Michael Shmulevich's private software company, Exilion Technologies Inc., to hold Exilion's BFX Swapmaster. Exilion says BFX Swapmaster is a suite of algorithms that control lending on cryptocurrency exchanges. FinX also has secure smart wallets and applications to buy and trade cryptocurrency.In December, Ms. Kropivnitski's other company, Planet Ventures Inc. (PXI: $0.165), invested $250,000 in FinX, saying that the $250,000 was "at a $5-million premoney valuation," whatever that means. Planet used to be a mining junior, but it switched to cryptocurrency and blockchain last fall.
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