Add Mike Novogratz to the list of investors looking for a fast track for the Canadian public market to tap into the latest madness: from bitcoin to lithium to marijuana.
Novolglaz, Goldman Sachs investment.
The banker, who became the Bitcoin champion, is starting a commercial bank called Galaxy Digital LP, dedicated to cryptocurrency and blockchain.
He took advantage of a shortcut on the Toronto Stock Exchange primary exchange.
Novolglaz plans to acquire Vancouver-
Head office at first Coin Capital
Then list the merged companies by reverse acquisition of an inactive company called Bradmer Pharmaceutica Inc.
Bradmer is currently listed in ts, a board of directors for companies below the TSX risk exchange listing standards.
If the transaction is successful, it will be renamed Galaxy Digital Holdings and will resume listing on the Venture Exchange.
For a high-
Profile fund managers list a new commercial bank through a small Canadian pharmaceutical company, but the strategy is widely used in cryptocurrency and other emerging industries such as pot.
The TSX Venture Exchange has hundreds of \"zombie\" shells that can be listed through reverse acquisitions.
It is well known that RTOs do not require a complete Securities Commission review, nor does it require a weighty prospectus as an IPO logo.
Typically faster and cheaper than an IPO, ts has been used 265 times on TSX Venture since 2001.
By contrast, there were only 49 Nasdaq in the same period.
The widespread use of RTOs in Canada has made it an outsider, although the exchange has used it as a way to develop small companies. The U. S.
S. Securities and Exchange Commission (sec) passed new rules in 2011, making it harder for private companies to use them. K.
S. Financial Services Authority took measures in 2012 to fill some loopholes that allowed some unqualified companies to go public in this way.
New companies in the cryptocurrency industry often use this strategy.
Honeycomb block chain technology Co. , Ltd.
Listing through a reverse takeover of Letta gold
And soared 220 on the first day of trading in September.
Before listing, according to the requirements of the securities rules, millions of Leeta shares are traded without disclosing the price.
Hive said it was a private transaction involving a former company that met all disclosure requirements.
Cabin 8 Mining Company
Another Vancouver
Headquartered in Bitcoin, it plans to list on the TSX Venture Exchange through shell this month.
Other sources of cryptocurrency and blockchain
Related listings outside Canada are even more bizarre.
Long Island Iced Tea
After announcing the change of name to Long Blockchain, the company\'s share price soared as much as 298. And password company.
Is a product of a reverse merger with a company that makes water and radio
Wave Sports bra pocket. Bloomberg. com