Hatch Interactive Technologies Corp. (formerly Tosca Resources Corp.) Announces Change of Business, Name Change and Resumption of Trading approved by the CSE
04.09.2015 | FSCwire
Vancouver, British Columbia (FSCwire) - Hatch Interactive Technologies Corp. (HAT) (“Company”) reported today that it has obtained final approval of its change of business and name change from Tosca Resources Corp. to Hatch Interactive Technologies Corp. As previously reported the Company has acquired all of the shares of Hatchitech Technologies Corp. (“Hatch”), which will operate as the Company’s wholly owned subsidiary. The Company will trade on the Canadian Securities Exchange under the symbol HAT.
The Company intends to change its business model from a mineral exploration company to a company engaged in the development, marketing, and monetization of innovative mobile applications. The focus is to develop social media platforms and aggregate large numbers of mobile users which can be leveraged and monetized over time.
The board of directors and management of the Company will now be Blair Naughty, CEO/Director, William McGraw, President/Director, Tristan Brett and Adrian Crook, Directors. Alexander Helmel will act as the Company’s CFO.
The Company has filed a Listing Statement on Sedar and also on the CSE website that provides detailed disclosure of the Company's new business and related risk factors.
The CSE has issued a Bulletin advising that the Company’s shares will be reinstated for trading at the opening on September 8, 2015.
As consideration for the acquisition of Hatch, the Company will issue an aggregate of 32,124,732 common shares to the principals of Hatch at a deemed price per share of $0.15. A total of 21,819,732 shares will be held in escrow in accordance with a Form 46-201F1 Escrow Agreement which provides that the shares are released from escrow over a three year period.
The Company also reports that Canal Front Investments Inc. and Naughty Capital Ltd., non-reporting companies controlled by Blair Naughty acquired 14,964,733 common shares in the capital of the Company pursuant to the transaction which will represent 32.8% of the total issued and outstanding shares of the Company post-closing. Mr. Naughty does not exercise control over any additional common shares. Mr. Naughty has filed an early warning report which is available on Sedar.com.
About Hatch Interactive Technologies Corp
Hatch Interactive Technologies Corp is one of North America’s newest technology incubators, staffed with an award winning technology team and a seasoned financial team. Hatch is set to launch a series of Interactive Technologies and Applications, focused on social media and gaming.
On Behalf of the Company
“Blair Naughty”
Blair Naughty, CEO
DISCLAIMER:
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company’s control. Some of these risks and uncertainties may be described in Infinity’s corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward looking statements due to new information or events.