PROSTAR SET TO GO PUBLIC, HIRES NEW COO

 

GRAND JUNCTION, Colo. - (The Daily Sentinel) - It’s been a busy couple of months for Page Tucker and his team at ProStar Geocorp.

The Grand Junction-based geospatial intelligence system company that specializes in mapping subsurface utilities and pipes has a new chief operating officer who brings the experience of working at multiple billion-dollar companies.

Vasa Dasan joined the organization Jan. 21 and is commuting between Boulder, where he teaches at the University of Colorado part time, and Grand Junction roughly every other week.

But possibly a bigger development is that ProStar is on the verge of becoming a publicly traded company through a reverse takeover. ProStar’s board approved the agreement Tuesday and the goal is to have it signed by Feb. 28. ProStar will be trading sometime in May, Tucker said.

ProStar will take over Doxa Energy, an oil and gas production/exploration company that concentrates on onshore projects. Doxa is based in Vancouver and is traded on the Toronto Stock Exchange. The move will make ProStar the only publicly traded company with its headquarters in Grand Junction.

According to Tucker, ProStar’s CEO, Doxa will give the majority of its shares to ProStar. Doxa will become ProStar Holding Corporation in Canada. ProStar Geocorp will continue to operate in the U.S.

He said the company will have a presence on stock exchanges in the U.S. and in Frankfurt, Germany, in addition to Canada. This also opens the door for more acquisitions down the road and, Tucker hopes, will further help Grand Junction grow as a place for technology-based businesses.

“I will do whatever I can to turn Grand Junction into a tech hub,” Tucker said. “This is a huge step in that direction.”

Read the full article here at the Daily Sentinel.