ClearPoint Resources Inc. and Terra Nova Acquisition Corp. expect to complete their merger today, the companies say.
ClearPoint Resources, which had operated under the name Mercer Staffing Inc., last August agreed to merge with Terra Nova, a public company, formed to effect the merger.
Following completion of the transaction, Terra Nova's common stock, warrants and units will cease trading on the Over-the-Counter Bulletin Board and begin trading on Nasdaq under the ticker symbol CPBR.
Founded in 2001, ClearPoint, based in Chalfont, has 140 employees in 29 branches and about 3,500 contract employees at its clients. It lost $1.2 million on revenues of $84.2 million in 2005. The company changed its name to ClearPoint in 2006. Chris Ferguson is ClearPoint's president.