Dexit have quietly added a restructure specialist to the board.  This seems to validate the earlier speculation in a few earlier posts, summarised here, that they are in trouble, and considering different options.

To recap, Dexit offer a contactless payment capability over a proprietary network in Canada, but primarily in downtown toronto.  They are been valiantly trying to expand their network coverage.

T.DXT – News Releases

Edward Nordholm – Mr. Nordholm is an Independent Consultant. Previously he was Senior Vice President of Brookfield Asset Management Inc. where he continues to serve the company on a consulting basis. He brings more than 20 years’ experience in corporate restructurings, mergers and acquisitions and corporate finance transactions. He has played a key role in Tricap Restructuring Fund’s principal investments, most recently in its $370 million commitment for exit financing for Stelco Inc. and $570 million recapitalization of Western Forest Products Inc. Mr. Nordholm first joined Brookfield in 1990 and worked extensively in the restructuring of the Group’s North American real estate holdings. Mr. Nordholm returned to Torys LLP in 1997 as a Partner in its Corporate/Commercial Practice, where his practice included financial workouts, capital restructurings, mergers and acquisitions and capital markets transactions. He has extensive experience developing, negotiating and implementing strategic and legal solutions to financial challenges.