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by Stockwatch Business Reporter
The TSX Venture Exchange fell 8.17 points to 775.46 Tuesday. Randy Chou's shell graduate, Nubeva Technologies Ltd. (NBVA: $1.50), is selling $3-million (U.S.) worth of tokens in Singapore. The company has been trading for just under two months, following the completion of a QT with Thomas O'Neill's Sherpa Holdings Corp. Sherpa was Mr. O'Neill's first capital pool shell. He listed it in November, 2017, at 10 cents, and rolled the stock back 1 for 5 in connection with the Nubeva deal. IPO investors need 50 cents to break even. They have been able to sell at a profit so far. Nubeva has traded between 72 cents and $1.90 and spent most of its time over $1.50, giving IPO investors a triple.
Nubeva sells a product that helps businesses move their networks securely onto the cloud. It uses blockchain technology, the promotion of which allowed Nubeva to raise $10-million at 60 cents in connection with the QT. It plans to use the additional $3-million (U.S.) from its token offering developing a cloud-based security network. The tokens would then allow the holders to purchase software licences from the company in the future.
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