Vancouver, British Columbia--(Newsfile Corp. - July 8, 2013) - Gravitas Financial Inc. (CNSX: GFI) lists on the on the Canadian National Stock Exchange. The company, previously trading as SearchGold Resources on the TSX Venture Exchange, has closed its change of business and business combination with Ubika Corp.
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In addition, the company has closed a brokered private placement of 24,000 subscription receipts, with Portfolio Strategies Securities acting as lead agent. These subscription receipts, together with the 30,000 previously issued in May, are exchangeable into Gravitas Financial debentures, with a par value of $1,000, paying a base interest rate of 3%. The resulting 54 million debentures are also listed on the Canadian National Stock Exchange, and will trade under the symbol GFI.DB.A
Upon satisfying the terms of the escrow agreement, $52.9 million has been transferred to Gravitas.
Formed in 2004, operational in 2007, and profitable in 2011, Ubika operates through two divisions. Its Ubika Research division provides investment research and analytics solutions related to small cap public companies to investors, investment advisors, and fund managers. It generates revenue by charging small cap company clients a monthly or annual fee for the provision of analytics or dissemination services.
The second division, SmallCapPower is an online portal platform through which small cap companies can disseminate corporate information. SmallCapPower client's pay a monthly fee to access the portal.
As part of its future development, Ubika plans to expand the solutions offered through SmallCapPower, such as email campaigns and video campaign solutions. It also plans to include content coverage of U.S. companies.
For more information on Gravitas Financial, please visit their website at www.smallcappower.com or contact the company's executive vice-president, Vikas Ranjan, at 416-605-7024 or email vikas@ubikacorp.com.
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