McLean, Virginia-based gold exploration company Aurtex Inc is changing its business focus and is planning to buy two telecommunications companies and minority stakes in two software companies for undisclosed sums. Aurtex will transfer its gold exploration assets into a unit called Krissos Resources Inc and distribute Krissos’s equity to Aurtex shareholders. It will declare a share consolidation and change its name to Sector Communications Inc. Aurtex, which currently has about 23.5m shares outstanding, said it hasn’t yet determined the share split ratio. It also received a private placement equity commitment for $5.5m. The company will acquire Global Communications Inc and Global Technology Inc, two private Dallas-based telecommunications companies under common ownership, for shares. It will also buy 20%, with an option to acquire the remaining 80%, of database and tools company DBE Software Inc, McLean, Virginia, for cash and will take 30%, with an option for an additional 50%, of Zurich OpenVMS firm HIS Technologies AG for cash and shares. Aurtex has not actually engaged in any revenue- producing activities in the past few years.
