15 Mar 2011business combination● NeutralMajor
This information statement confirms a change in control after the Terra Mining deal: Gregory Schifrin (CEO) and James Baughman (COO) hold over 51% of the 11,852,313 outstanding shares (about 39.4% fully diluted, with 16,577,313 shares including warrants). Sole director Brian Klemsz is to resign and Schifrin and Baughman become the board, effective ten days after mailing; Mark Scott is CFO and Secretary. It continues the March 2011 acquisition story and says the company plans to add up to three independent directors.
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4 Mar 2011business combination● NeutralMajor
The company (filing as WestMountain Index Advisor) closed its acquisition of Terra Mining Corporation and its subsidiary Terra Gold Corporation on February 28, 2011, issuing 1,500,000 restricted shares for Terra Mining and taking on $500,000 of BOCO debt for Terra Gold. Terra Mining holds 240 Alaska state mining claims (about 130 sq km) with 168,000 oz of inferred gold. The company also issued 5,000,000 shares for further Alaska claims, converted BOCO's $500,000 of notes into 1,000,000 shares plus a warrant for 1,000,000 shares at $0.001, and agreed to private placements of $630,000 (1,260,000 shares) and $370,000 (740,000 shares) at about $0.50. This changes the company from its earlier index-advisory business to gold exploration, with heavy new share issuance. The filing text was truncated, so remaining consulting terms are not covered.
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