AskMuncher
4 years ago
$SAYFF OSC Cease Trade Order
Announcement | 06/18/2020
IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED (the "Act")
AND
IN THE MATTER OF
3 SIXTY RISK SOLUTIONS LTD.
AND
IN THE MATTER OF
THOMAS GERSTENECKER AND ERNEST PETRASOVIC
(individually, a "Respondent" and collectively, the "Respondents")
TAKE NOTICE that the Director made an order under paragraphs 2 and 2.1 of subsection 127(1) of the Act and subsection 127 (4.1) of the Act that the Respondents cease trading in and acquisitions of, whether direct or indirect, the securities of
3 SIXTY RISK SOLUTIONS LTD.
until two full business days following the receipt by the Commission of all filings 3 Sixty Risk Solutions Ltd. is required to make under Ontario securities law, or further order of the Director.
DATED at Toronto this 18th day of June, 2020.
Ontario Securities Commission
"Michael Balter"
Michael Balter
Manager, Corporate Finance Branch
CC: Odyssey Trust Company
IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED (the "Act")
AND
IN THE MATTER OF
3 SIXTY RISK SOLUTIONS LTD.
AND
IN THE MATTER OF
THOMAS GERSTENECKER AND ERNEST PETRASOVIC
ORDER
(Paragraphs 2 and 2.1 of Subsection 127(1) and Subsection 127(4.1))
WHEREAS 3 Sixty Risk Solutions Ltd. (the Reporting Issuer) is a reporting issuer in the Province of Ontario.
AND WHEREAS each of Thomas Gerstenecker and Ernest Petrasovic (individually, a "Respondent" and collectively, the "Respondents") is a director, officer or other insider of the Reporting Issuer and had, or may have had, access to material information with respect to the Reporting Issuer that has not been generally disclosed.
AND WHEREAS the Reporting Issuer failed to file the following continuous disclosure materials as required by Ontario securities law (collectively, the "Default"):
a) audited annual financial statements for the year ended December 31, 2019;
b) management's discussion and analysis relating to the audited annual financial statements for the year ended December 31, 2019; and
c) certification of the foregoing filings as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings;
AND WHEREAS the Director is of the opinion that it is in the public interest to make this order;
IT IS ORDERED pursuant to paragraph 2 and paragraph 2.1 of subsection 127(1) and subsection 127(4.1) of the Act that, effective immediately, all trading in and all acquisitions of the securities of the Reporting Issuer, whether direct or indirect, by the Respondents shall cease effective immediately
IT IS FURTHER ORDERED this order shall be revoked two full business days following the receipt by the Commission of all filings the Reporting Issuer is required to make under Ontario securities law, or further order of the Director.
IT IS FURTHER ORDERED under subsection 127(2) of the Act that, if the Reporting Issuer has a website, this order shall be prominently posted on such website.
DATED at Toronto, this 18th day of June, 2020.
Ontario Securities Commission
"Michael Balter"
Michael Balter
Manager, Corporate Finance Branch
Original
Golden Cross
5 years ago
3 Sixty Secure Provides Update on Accelerating Path to Sustainable Profitability
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September 26, 2019 07:00 ET | Source: 3 Sixty Secure
Realized annual cost savings of more than $2.4 million through enhanced operational efficiencies
Continues to target annualized cost savings of $4 million by the end of 2019
Remains on track to meet or exceed quarterly revenue guidance of $8.5 million
ALMONTE, Ontario, Sept. 26, 2019 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) is pleased to announce that the Company, which operates through its wholly-owned subsidiary, 3 Sixty Secure Corp., has realized annualized cost savings of more than $2.4 million through enhanced operational efficiencies; the Company maintains its annualized cost reduction target of $4 million by the end of 2019. These realized and expected cost savings are expected to accelerate the Company’s path to sustainable profitability while supporting 3 Sixty’s growth strategy. The Company expects a strong finish to the third quarter as it continues to secure lucrative contracts across all company services platforms and is on track to meet or exceed its previously announced revenue target of $8.5 million for Q3 while aggressively enhancing efficiencies. These efficiencies have been identified primarily post-transaction of the INKAS Security Services Ltd. acquisition.
“3 Sixty remains in growth mode, however management has identified and implemented significant cost savings that accelerate our path to sustainable profitability without sacrificing our commitment to customer service or impacting our growth agenda,” said Thomas Gerstenecker, CEO and Founder of 3 Sixty. “An improved cost structure, continued customer wins and meeting or exceeding our quarterly revenue guidance provides us with the financial flexibility to execute against our growth strategy as we remain laser-focused on leading the cannabis security industry in Canada and expanding our services within the US.”
“Management will identify further efficiencies heading into 2020 as we continue to build a lean company while expanding our service offerings, gaining market share within Canada, and expanding into strategic locations in the US,” added Thomas Gerstenecker. “We have already secured licenses in Nevada, Florida, Ohio and managed services in New Jersey, and we have set our sights on Missouri, New York, Colorado, Arizona and California as potential areas of expansion.”
The Company has retained the services of Renmark Financial Communications Inc. (“Renmark”) to manage parts of its investor relations activities. In consideration of the services to be provided, the monthly fees incurred by 3 Sixty will be a cash consideration of up to $7,000 CAD, starting September 1, 2019 for a period of six months ending on March 31st, 2020 and monthly thereafter. Renmark does not have any interest, directly or indirectly, in 3 Sixty or its securities, or any right or intent to acquire such an interest.
About 3 Sixty Risk Solutions Ltd.
3 Sixty Risk Solutions Ltd., operating through its wholly-owned subsidiary, 3 Sixty Secure Corp., is one of Canada's leading security service providers to the cannabis sector, transporting approximately $250 million of product every month. 3 Sixty provides cannabis security consulting, guarding and secure transport security services to more than 600 customers and more than 100 licensed cannabis producers, including some of the world's largest, such as licensed producers owned by Canopy Growth Corporation. 3 Sixty has a staff of over 650 employees and employs a fleet of over 150 vehicles, which management believes provides a combined security footprint to approximately 35 million square feet of patrolled area.
Further Information.
For further information regarding the Company, please contact:
Carlo Rigillo, Chief Financial Officer, 3 Sixty Secure Corp.
(866) 360-3360,
IR@3sixtysecure.com
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the business and operations of 3 Sixty. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 3 Sixty assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
redinvest
12 years ago
Due dilligence on Petro Vista
Moderator - put this intel on the opening page or flag it.
Huge accumulation going on now
" PetroVista Energy Corp (PTV.V)
$13.8M market cap, trading 0.06 to 0.095 this week on 22MM shares since May 22nd. We entered Monday morning @ 0.06. Added during the next five days on weakness. The stock was bought heavily into the close Friday.
Petro Vista is a Canadian oil and gas exploration and development company with operations in South America. The Company's goal is to build an upstream oil and gas company with exploration and production focused in the highest resource potential and commercially attractive areas of the continent.
We think that they are about to take a major step forward on the realization of this plan. Transformative news is due.
The company has interests in two of Brazil’s most prolific and proven basins, the Sergipe Alagoas Basin and the Reconcavo Basin. Petro Vista has interests in a total of 15 blocks in Brazil, onshore and offshore, with working interests ranging from 25% to 50%. Net acreage totals over 37,000. These properties include prospects that are in, or have, both near-term production and development potential as well as longer-term exploration opportunities.
Keith Hill and Ian Gibbs of Africa Oil and Horn Petroleum are respectively chair and co-chair on the board. and Darren Devine is acting as CEO until a new lead entity is brought in to manage the production and development arm of the company (the vacancy is quite recent and the fill, in my opinion, is nigh for reasons discussed later on in this article).
Following his success in Africa, Keith has now turned his vision back to Brazil and is locked on.
In the Sergipe-Alagoas Basin Petro Vista is optioned to a 37.5% working interest (27.23% net revenue interest) in producing shallow offshore block (Taratuga). Pipeline access within 1.5km. Nearby Oil Fields include Carmopolis (30MMBO produced) and Caioba (50 MMBO produced). The oil from the Tartaruga Field is good quality 41 degree API. Existing production facilities are on site and Taratuga is now in production, awaiting the results of a workover (due in less than four weeks from this date) that is expected to see the two wells significantly increase their flow rates. The word 'significant' cannot be overstressed here.
The Reconcavo Basin is another proven oil reservoir going back four or more decades, and is another focus of PTV's interests. It has a very high index of recoverable oil. It continues to prove up new resources: Petrobras Finds Oil in Fazenda Panelas Field of Reconcavo Basin, May 01, 2012 and Brookwater Tested Oil, Gas Shows In Reconcavo Basin Feb-Mar. 2012. PTV has a working interest in 2 onshore blocks totaling 4,364 Net Acres of low-risk and low-cost exploration opportunities with nearby pipeline access. The area is directly adjacent to the proven Miranga Oil field (Petrobras) - 814 MMBOE in place. More to come on this in the next little while.
Then, in all of this, is the one element that has true speculators salivating: PTV also have eyes set on deep water exploration.
In 2010 Petrobras identified hydrocarbons in well 1-BRSA-851-SES (1-SES-158) on the Barra prospect, located in the ultra-deep Sergipe-Alagoas Basin waters in the BM-Seal-11 concession. This new oil province in the Sergipe-Alagos Basin confirms the existence of large accumulations in the distal portions of the basin, implying there are greater volumes than those found in shallower waters. The identified hydrocarbons are also similar to those bearing oil in the deep Campos Basin waters.
So, the plan is simple: create a Brazil energy consortium of significance whose existence is predicated on sustainability, and through their presence in the region and led by champions of energy, find themselves among the best deep water exploration prospects by invitation and guile.
Our sources and research tell us to expect something that will point the way forward on this, and soon. Remember back to the beginning of this opinion piece: the CEO's position is now vacant. This is not by happenstance. According to conversations with management, of the three options discussed at last Thursday's at Africa Oil AGM one stands out: bring in new operational management that can best deliver on the wishes of the board.
Our thinking on this is simple. Keith Hill and Ian Gibb deplore risk yet reward entrepreneurial spirit and adroit management. They will not allow this project to fail. They do not entertain money from people they do not know. And they will not be inviting in operational talent they haven't had success with on other oil ventures. There have been hints from the galleys that a mid-tier Brazilian outfit may be joining in. As of Friday I am discounting that and placing my bets on Tullow.
You heard it here first.
Given all the above, the group's good friends at Merrill lynch have been buying all the shares they can. They've been doing this on AOI and HRN, and now here. There is a reason for this. These shares can be positioned in any direction, at any time, like a heat seeking missile. They can be laid down like a golden carpet for a new fill, an asset. Something that could grab the attention of a group like Tullow and keep it.
What asset might that be? Offshore Brazil? French Guiana? Uruguay? Take your pick. In two of them Tullow are already there.
With 25M warrants ready to grease the treasury (and, through conversation with those who should know, are more convinced that ever that these shares will find their way into the company coffers above 0.20) we expect to see a run on this stock into the low thirties for the first leg. The second leg could accommodate a raft of warrants that need to find a new home from .40 up, taking the stock to the low 0.60's.
Sound like a stretch? Where were you when AOI got going just a few short months ago?
As Mr. Devine said to me, “She's been trading like a beast!'. We may have seen nothing yet. I for one am looking forward to PTV's first 10 – 15M share day in the near future.
PTV has moved off absolute bottom recently and is currently showing firm support on the Daily Charts at 0.06. Buying on a local retrace has been steady, on volume.
Cal/fringe
References:
Brazil Oilfields and Geology, from 2009: Sergipe Onshore Offering
http://www.brasil-rounds.gov.br/arquivos/seminarios/STA_2_Bacia_de_Sergipe_Alagoas_ingles.pdf
Brazil 4: Reconcavo
http://www.anp.gov.br/brasil-rounds/round4/round4/workshop/restrito/ingles/Reconcavo_ing.PDF
Petrobras Finds Oil in Fazenda Panelas Field of Reconcavo Basin
http://www.businessweek.com/news/2012-05-01/petrobras-finds-oil-in-fazenda-panelas-field-of-reconcavo-basin
Brookwater Tests Oil, Gas Shows In Reconcavo Basin
http://www.epmag.com/Exploration-Reservoir-Evaluation/Brookwater-Tests-Oil-Gas-Shows-Reconcavo-Basin_97991
Tullow is no Stranger to South American Offshore Oil
http://online.wsj.com/article/SB10001424053111903285704576559941258722316.html
and
http://www.businessweek.com/news/2012-03-30/bp-bg-group-total-tullow-to-explore-for-oil-in-uruguay
“Tullow, which holds a 27.5% stake in the discovery, operated the well and said oil from the reservoir should be relatively easy to extract. The company also said the discovery proves its theory that major oil finds in offshore West Africa can be replicated in South America.”
Red
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