B.C.-based Standard Tolling (TSXV:TON, Forum) turned into a half-penny stock Tuesday as trading resumed following their unsuccessful fight to stave off insolvency.
The company lost 85.5% of its value in hitting the minimum price allowed on the Venture Exchange of $0.005, as trading resumed just four days after recruiting a new director in a bid to maintain exchange listing requirements.
Standard got itself tangled in a mess of LOIs and loans with Inca One Gold Corp (TSXV:IO, Forum), which had previously agreed to an LOI to purchase Standard Tollings Peru-based mill and ore, and move both to their own land.
While Standard shifted the majority of their ore in advance of the deal being formalized, their attempts at dismantling the mill for …
Read the full article at: http://www.stockhouse.com/news/newswire/2016/01/12/standard-tolling-v-ton-sheds-85-5-as-time-runs-out-on-insolvency-fight