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mercator transport group cor (GMT) Snapshot

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mercator transport group cor (GMT) Details

Mercator Transport Group Corporation provides air, ocean, and ground transport brokerage, as well as international logistics and distribution services in Canada and internationally. The company offers value-added services in global supply chain management, including transportation, documentation, international regulations, banking, and customs transactions; provides air, ocean, and transborder freight forwarding, as well as designs tailored logistics solutions; and guides and organizes the flow of client’s goods and services. Mercator Transport Group Corporation is headquartered in Montreal, Canada.

mercator transport group cor (GMT) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$200.0K
Chief Financial Officer
Total Annual Compensation: C$145.0K
Chief Opeating Officer, Vice President, Direc...
Total Annual Compensation: C$175.0K
Compensation as of Fiscal Year 2013.

mercator transport group cor (GMT) Key Developments

Mercator Transport Group Corporation Transfers Its Listing From TSX-V To NEX

In accordance with TSX Venture Policy 2.5, Mercator Transport Group Corporation has not maintained the requirements for a TSX Venture (TSX-V) Tier 2 company. Therefore, effective at the opening on May 7, 2015, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Montreal to NEX. As of May 7, 2015, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The trading symbol for the Company will change from GMT to GMT.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market. Further to the TSX Venture bulletin dated September 3, 2014, trading in the shares of the Company will remain suspended. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.

Mercator Transport Group Corporation Announces Board Resignations

Mercator Transport Group Corporation announced Messrs. Alexandre Jarry, Laurent M. Marchal and William Spurr have resigned as Directors. Mr. Jarry was also Secretary of the Corporation. Messrs. Jean-Pierre Apélian, President and Chief Executive Officer, and Xavier Aymé, Chief Operating Officer of the Corporation, will remain on the Board of Directors.

Mercator Transport Group Corporation Announces Financial Results for the Third Quarter Ended January 31, 2014

Mercator Transport Group Corporation announced its financial results for the third quarter ended January 31, 2014. For the period, the company reported net revenues of CAD 2,921,000, LBITDA of CAD 594,000, loss from continuing operations of CAD 1,346,000 or CAD 0.036 per basic and diluted share and net loss attributable to owners of the company of CAD 1,230,000 or CAD 0.036 per basic and diluted share compared to net revenues of CAD 6,828,000, LBITDA of CAD 672,000, loss from continuing operations of CAD 1,024,000 or CAD 0.028 per basic and diluted share and net loss attributable to owners of the company of CAD 1,021,000 or CAD 0.027 per basic and diluted share a year ago. Net revenues are due to reduced sales in France and Canada, factor partially offset by increased revenues in Argentina. The decrease in revenue is the result of funding constraints of the Company. The improvement in EBITDA loss is attributable to reduced selling and administrative expenses. Net loss from continuing operations increased due to increased financing costs partially offset by the improved EBITDA loss.

 

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