Jan.9, 2014
White Bear Resources Inc. ("White Bear") today announces that it has entered into a binding letter of intent with Tinkerine Studio Ltd to acquire all of the 200 issued and outstanding shares of Tinkerine, in exchange for the issuance of an aggregate of 12,000,000 common shares of White Bear. Upon successful closing of the Acquisition, Tinkerine will be a wholly-owned subsidiary of White Bear (TSX VENTURE:WBR).
In connection with the Acquisition, White Bear will issue an aggregate of 900,000 options to current Tinkerine option holders in exchange for their aggregate 15 existing Tinkerine options, each of which will be exercisable into one White Bear Share at a price of $0.15 per share until December 20, 2016.
White Bear is currently a natural resource company but is expected to change the focus of its business in connection with the Acquisition. Tinkerine, established in May 2012, is a British Columbia-based 3D printing company that specializes in 3D printing technologies. Tinkerine developed and launched its initial 3D printer product, the Ditto, in the fall of 2012. Product development was continuous in 2013 and two additional models have been launched, with a third model presently under development.
Concurrent Financing
In connection with the closing of the Acquisition, White Bear intends to complete a private placement financing of a minimum of 8,000,000 units at a price of $0.25 per Unit for minimum gross proceeds of $2,000,000. Each Unit will be comprised of one White Bear Share and one half warrant, with each Warrant being exercisable into one White Bear Share at a price of $0.40 per share for a period of 18 months following the Closing.
Tinkerine
Tinkerine is a British Columbia corporation that is based in Langley, BC. Its board of directors currently consists of Eugene Suyu, Ying Ta Wu (Dan), Chun-Ning Yang (Andy) and Justin Adam Sy. All of the current directors and officers are currently shareholders of Tinkerine. Mr. Suyu holds 10.5%, members of his immediate family sharing the same residence hold 15%, Mr. Burian holds 12.5% and Mr. Liew holds 12.5% of the outstanding Tinkerine Shares. All are expected to be insiders of White Bear upon completion of the Acquisition.
In addition, Mr. Liew and Mr. Burian are also holders of White Bear Shares, with Mr. Liew holding, indirectly, approximately 18.7%, and Mr. Burian holding approximately 4.2%, of the White Bear Shares on an undiluted basis. It is expected that, upon completion of the Acquisition, Mr. Liew will hold 12.3% of the outstanding White Bear Shares on an undiluted basis.
Posted in 3D Printing Company
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saw them at Maker Faire Van 2015, looks like customer service is getting "slightly" better than when I stopped into their manufacturing place on 6th ave to acutually BUY a printer! got ZERO acknowledgment in the showroom for some time eventually some poor blinky eyed dude came over to stare at me with a "what are you doing here" look and alot of der der yeah these are the printers yup they print stuff - so disappointing for such a promising product and I am reluctant to endorse until customer service improves
jd90 wrote at 1/11/2014 2:54:36 AM:
Four different people reply, all four mention Make's guide, three mention runners-up status in said guide, two mention Maker Faire. Sorry, I really get the sock puppet vibe here.
annablue88 wrote at 1/10/2014 6:45:30 AM:
This article says there's a machine under development... Who knows if that ones wood or not. They did win runner up in best value and best documentation from the Make ultimate guide to 3d printing...
arrrgh wrote at 1/10/2014 4:02:41 AM:
We have seen these guys at several Maker fairs, shows, and conferences- and have even seen one of them speak at shows. They have been around the space for some time now. They know what they are doing. I see Make Magazine had them at or near the top of a few categories recently. It will be cool to see what a consumer based company focuses on…and what that look like in a public company marketplace devoid of any investment opportunities for companies under $500 million
LKin wrote at 1/10/2014 3:42:13 AM:
They are in the MAKE 2014 printer reviews, got runner up for best value, best documentation, and surprise hit, they were also in the 2012 one... where have you been?
Jayce wrote at 1/10/2014 3:04:04 AM:
I've seen Tinkerine and their printers a couple times before when I went to the Maker faire in NY and their recent review on Make's magazine. Though I haven't had experience with them it's good to see more competition enter the market.
Jayce wrote at 1/10/2014 2:41:08 AM:
I've seen Tinkerine and their printers a couple times before when I went to the Maker faire in NY and their recent review on Make's magazine. Though I haven't had experience with them it's good to see more competition enter the market.
jd900 wrote at 1/10/2014 12:03:04 AM:
That's a lot of money for some 3D printer company I've never heard of, the market is pretty crowded. Especially for a company that is selling 3D printers with wooden frames. It doesn't look like this site has ever reported a story on them, though they have some items in the printer comparison list.
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