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FogChain Corp. (FOG-X.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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0.05500.0000 (0.00%)
At close: 3:59PM EST
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  • R
    Rob
    When is Fogchain coming back to the market?
  • D
    Darwin brian
    my money is safe here from the market correction😂
  • M
    Mike K
    hello is anybody there?
  • T
    Tejpal
    looks promising with their tech though
  • M
    Michel
    0 revenue in qtr 3
  • p
    peter
    GREAT NEWS TODAY THINK WERE ABOUT TO GO MUCH HIGHER
  • k
    kingof
    Fogchain Announces Definitive Agreement for the Acquisition of Canadian Teleradiology Services
    C.FOG | 1 day ago
    Canada NewsWire

    VANCOUVER and SAN CARLOS, CA, Dec. 18, 2019

    /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/

    VANCOUVER and SAN CARLOS, CA, Dec. 18, 2019 /CNW/ - FogChain Corp. (CSE: FOG) (OTCB: FOGCF) (FRA: MUU3) (the "Company" or "FogChain") is pleased to announce, further to its news release on November 6, 2019, the Company has entered into a definitive share exchange agreement with Canadian Teleradiology Services Inc. ("CTS") and the shareholders of CTS (the "CTS Shareholders") dated December 17, 2019 (the "Share Exchange Agreement"), pursuant to which the Company has agreed to acquire all of the issued and outstanding common shares in the capital of CTS (the "CTS Shares"), a privately held Canadian company, from the CTS Shareholders in exchange for the issuance of common shares in the capital of the Company (the "FogChain Common Shares") subject to the conditions set out in the Share Exchange Agreement (the "Transaction").

    The CTS Shareholders are expected to receive approximately 15,000,000 post-Consolidation (as defined below) FogChain Common Shares in consideration for all the issued and outstanding CTS Shares, at a deemed price of $4,687.50 per CTS Share on a pro-rata basis. In addition, subject to the approval of the Canadian Securities Exchange (the "CSE") an aggregate of 5,000,000 common shares in the capital of the combined entity upon completion of the Transaction (the "Resulting Issuer") will be issued to Mitchell Geisler and Robert Landau in connection with the entering into of employment agreements with the Resulting Issuer. Subject to the fulfillment of the conditions precedent set out in the Share Exchange Agreement, including receipt of approval from the CSE and shareholders of the Company, the Transaction is expected to close on or prior to March 15, 2020, or such date as the Company and CTS may agree.

    Upon successful completion of the Transaction, the Company will continue the business of CTS and will change its name (the "Name Change") to "RSI Health Inc." or another name selected by CTS acceptable to the CSE upon closing of the Transaction (the "Closing").

    The Transaction

    The Share Exchange Agreement contains a number of conditions precedent Closing, including the completion of the Consolidation of the FogChain Common Shares and class A convertible restricted voting shares of FogChain (the "FogChain Class A Shares", and together with the FogChain Common Shares, the "FogChain Shares"), completion of customary due diligence, receipt of all necessary regulatory, corporate and third party approvals, compliance with all applicable regulatory requirements and all requisite board and shareholder approvals being obtained.

    The Consolidation

    Immediately prior to the completion of the Transaction, it is a condition that the Company consolidates its issued and outstanding share capital on the basis of fifteen (15) pre-consolidation FogChain Shares for one (1) post-consolidation FogChain Share (the "Consolidation"). The FogChain Common Shares to be issued to CTS Shareholders in exchange for their CTS Shares in connection with the Transaction will be issued on a post-Consolidation basis.

    The FogChain Common Shares issued in connection with the Transaction may be subject to escrow conditions and/or resale restrictions as required by applicable securities laws and the policies of the CSE.

    Board of Directors and Management

    In connection with the Transaction, it is anticipated that James Cerna, Charles Berman, Patrick Quilter, and Zachary Dymala-Dolesky will resign upon Closing and the following people will be appointed as directors and officers, as applicable, of the Company:

    Mitchell Geisler, Chief Executive Officer and Director

    Since 2009, Mr. Geisler has been the Chief Executive Officer and a director of CTS. He received his Bachelor of Arts degree from York University. Mr. Geisler is also the Chief Executive Officer and Director of Medical Imaging Corp., a holding corporation, that owns 62.5% of CTS. Mr. Geisler has extensive experience in healthcare operations across North America.

    Robert Landau, Chief Financial Officer and Director

    Mr. Landau is the Chief Financial Officer of CTS. He received his Bachelor of Commerce degree in Finance and Actuarial Science from the University of Toronto. Mr. Landau is also the president of Leveljump Inc., a consulting firm for accounting and financial services. From 2012 to 2018, Mr. Landau was a consultant for accounting and finance for four diagnostic imaging centres in the United States.

    Jeffrey Stevens, Director

    Mr. Stevens is Chief Operating Officer and President of Datametrex AI Ltd. (TSXV:DM), an Artificial Intelligence and Machine Learning company, and a Director at New Wave Holdings, a private eSports and eGaming Investment Company. In addition to Mr. Stevens experi
  • p
    peter
    Does anyone have any news on the pending merger
  • T
    Tejpal
    what's happening here
  • p
    peter
    VERY GOOD NEWS OUT ON FOG CHAIN
  • W
    Ward
    This looks interesting to me. I've seen OTC languish, but their team looks serious and edge/5G is around the corner.
  • p
    peter
    what a perfect buying opportunity right here
  • p
    peter
    WHAT IS HAPPENING WITH THIS STOCK GREAT NEWS OUT THERE AND NO UPSIDE MOVEMENT ??
  • w
    wedgecake
    BUGGERY
  • p
    peter
    SO THE MILLION DOLLAR QUESTION IS HOW IS THIS TRADING AT THIS LOW PRICE ?
  • R
    Rebecca
    when did this stock start trade?
  • p
    peter
    something big is happening lots of volume we got rid of the short term traders it looks good from here
  • p
    peter
    nothing on the bid
  • T
    Theresa
    Was wondering if this was still active. Any info.?
  • p
    peter
    get ready were about to move much higher