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QIS Update #3 2014 - January 28th 2014



Included in this update:

  • Blackbird Energy provides operations update and appoints IR consultant
  • Virtutone Networks launches wholesale SMS division and closes final tranche of private placement

 


 

Thank you to all of those who participated in the recent Virtutone Networks private placement. If you would like information on participating in future private placements, please email us and we’ll add you to our financing network.

Please feel free to email us anytime at info@smallcaps.ca or call us at (250) 377-1182. We look forward to your comments, questions, and feedback.

 


 

Blackbird Energy Inc. (BBI:TSX-V)
Website: www.blackbirdenergyinc.com
Current Price: $0.07 (coverage commenced Aug 19/11 - $0.18)

 

Blackbird Energy Inc. has entered into a consulting agreement with Brisco Capital Partners Corp. for the provision of investor relations and marketing services. The agreement between Blackbird and Brisco provides for an initial term of one year, may be terminated by either party with 30 days written notice and is subject to acceptance from the TSX Venture Exchange. Brisco will receive a monthly fee of $7,500 and will be granted 900,000 options. Such options will vest in four equal quarterly tranches over a period of 12 months from the date of grant and will be exercisable at a price of $0.10 for a period of two years from the date of grant.


Brisco, founded by Scott Koyich is a Calgary-based firm with a North American presence. Under the direction of Katrin Tosine, Director of Investor Relations at Brisco and Scott Koyich, Brisco will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and its activities. Brisco takes a full service approach and provides creative and effective investor relations programs for Canadian public companies.


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Blackbird Energy Inc. has provided an update on its ongoing operations.

 

Blackbird has increased its holdings of Montney Petroleum & Natural Gas Rights in the Greater Karr project to 21 sections (13,440 acres). All of the acquired sections also include deeper rights including rights to the prospective Duvernay formation. The Greater Karr project contains strong analogs to wells that have been drilled in the area to date. Blackbird has begun the process of seeking a partner to assist in developing the Greater Karr project.


At its Bromhead project, Blackbird has completed its first re-entry candidate. The recompletion was completed under budget, with a cost of approximately $200,000. After evaluation, Blackbird encountered a non-commercial amount of hydrocarbons in the one zone perforated to date (Midale Vuggy). Blackbird has begun to evaluate further zones, such as the Bakken and Three Forks, for possible further pursuit. The Bakken and Three Forks zones appear in lands that are in close proximity to the Bromhead project.


Blackbird Energy Inc. is a Western Canadian based company that explores, develops and produces oil and natural gas in Western Canada. The Company is managed by a proven technical team. Blackbird trades on the TSX Venture Exchange under the symbol BBI.


Blackbird's team is focused on originating new high quality oil projects through the assembly of land positions in Saskatchewan and Alberta.


QIS Capital: While the Bromhead drilling was disappointing, management is actively pursuing and developing the company’s plays at Greater Karr and Mantario. Both areas are surrounded by active and successful drilling. Blackbird is seeking a partner at Greater Karr and is making preparations for a horizontal drilling program at Mantario. We welcome Brisco Capital Partners and look forward to working with them in increasing the investor exposure of Blackbird Energy.

 


 

Virtutone Networks Inc. (VFX:TSX-V)
Website: www.virtutone.com
Current Price: $0.46 (coverage commenced Sep. 9/11 - $0.10)

 

Virtutone Networks Inc. has announced that it has closed its previously announced brokered private placement. First Republic Capital Corporation has acted as agent with respect to the Private Placement. The Corporation issued an aggregate of 13,331,798 units of the Corporation to exempt buyers through First Republic at a price of $0.30 per Unit for approximate aggregate proceeds of $3,999,539.40, inclusive of 4,808,166 Units (aggregate gross proceeds of $1,442,449.80) issued today in the second and final tranche of the Private Placement.

 

Each Unit is comprised of: (i) one common share of the Corporation; and (ii) one half of one common share purchase warrant of the Corporation. Each whole Warrant will entitle to holder to purchase one Common Share at an exercise price of $0.40 for a period of two years from the date of the date of issuance. If, during the period commencing on the date that is four months and one day following the date of issuance and ending on the Warrant Expiry Date, the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange exceeds $0.40 for each day for a period of 20 consecutive trading days, then the Corporation may, from time to time, give the holders of the Warrants written notice (the Accelerated Expiry Date Notice) of such occurrence within 30 days of such occurrence, in which case the Warrants will expire at 4:00 p.m. (Calgary time) on the 30th day following the giving of the Accelerated Expiry Date Notice (the Accelerated Expiry).

 

In respect of the 4,808,166 Units issued today, the Corporation has paid First Republic and certain other sub-agents a cash commission of $115,395.98, representing 8% of the gross proceeds of the final tranche of the Private Placement and has issued to First Republic and certain other sub-agents 384,653 broker warrants (Broker Warrants), representing 8% of the number of Units sold in the final tranche of the Private Placement. Each whole Broker Warrant will entitle to holder to purchase one unit (Broker Unit) of the Corporation at an exercise price of $0.30 for a period of two years from the date of issuance, subject to the Accelerated Expiry. Each Broker Unit shall be comprised of: (i) one Common Share; and (ii) one half of one Warrant (Underlying Broker Warrant) of the Corporation. The Underlying Broker Warrants shall be subject to the same terms and conditions as the Warrants.

All securities issued today in the final tranche of the Private Placement are subject to a four-month hold period under applicable securities laws, which hold period expires on May 28, 2014.

 

The proceeds from the Private Placement will be used for general working capital and corporate purposes.

 

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Virtutone Networks Inc. has announced that the company has launched a new Wholesale SMS Division to compliment its current wholesale long distance business.

 

The company sees that there is an opportunity to be a niche player in the wholesale SMS/MMS hubbing business. This business line will produce much higher gross margins for the company, as there is very little competition in the space, and the market is ripe for a boutique company such as Virtutone. By using existing technology and infrastructure this enables the company to leverage its existing business relationships to quickly get this division off the ground. The initial focus is on G8 countries, which will allow Virtutone to access the greatest volume of traffic from current customers.

 

The company is pleased to announce that it has hired Harold Baxandall (Former Regional VP, Sales at TELUS) to head up its new division. Harold has over 33 years experience in the industry and brings that vast knowledge and network to assist in launching this new division.

 

We are very excited to bring this division online, as it allows us to leverage our existing relationships, use our existing infrastructure, while increasing the companies overall margin. said Jason Allen, Chief Executive Officer of Virtutone. We welcome Harold to the Company, his vast experience at TELUS will allow us to grow this division very rapidly.



 

Disclaimer: This article is for informational purposes only. The information contained within this article should not be construed as offering investment advice. Those seeking direct investment advice should consult a qualified, registered, investment professional. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The company profiled assumes no liability for the information presented. This is not a direct or implied solicitation to buy or sell securities. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. The author(s) owns directly or indirectly 499,500 shares and 650,000 options of Blackbird Energy Inc. and 640,000 shares and 212,500 warrants of Virtutone Networks Inc. QIS Capital may have a financial relationship with these companies and may trade in the stocks mentioned. No stock exchange has approved or disapproved of the information contained herein. Copyright © 2003 - 2014 QIS Capital Corporation.

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