ZAQ announces relaunch of activities and trading
News | 12/19/2003 5:00 am EST
ZAQ Inc. will resume operations under the terms of a business plan approved by the board of directors this fall. Class A shares of the company resumed trading December 15. Under the terms of the plan, the company will continue providing interactive marketing solutions to its clients and will continue to develop, acquire and market software-based products for interactive marketing. It will also provide software development, enhancement and maintenance services to Information Solutions Analytics Compliance Technologies Inc. (ISAC), which owns approximately 37.7% of ZAQ’s voting shares. In the same media release in which it announced the resumption of trading and business activities, the company also noted that it has recently acquired Nobelia Inc., a Victoriaville QC-based software and services company for $31,000 cash and 152,857 shares of ISAC worth $566,000 held by ZAQ. Some assets held by Nobelia not core to ZAQ’s business will be divested. ISAC has also lent ZAQ $500,000 in working capital to be repaid with market interest rates.
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