ProStar Geocorp is going public, it announced in a Friday news release.
The company, at 760 Horizon Drive, No. 200, will be publicly traded starting Monday on the Toronto Stock Exchange. ProStar CEO Page Tucker believes this is the first time a company headquartered on the Western Slope will be publicly traded.
ProStar, a data collection and geospatial intelligence system company, will be traded under the symbol MAPS.
“This demonstrates that small companies like ProStar in rural areas can thrive and compete globally,” Tucker said. “Our success supports the needs for programs like The Rural Jump Start Program, a tax break for employees, as we were the first recipient in Colorado.”
ProStar, founded in 2014, began the process in 2018 after a reverse takeover of Vancouver-based Doxa Energy, which subsequently became ProStar Holdings Inc.
In February 2019, ProStar hired Vasa Dasan, who has experience with multi-billion dollar companies, as its new COO. The plan was to go public in May of that year but that was delayed. Eventually, ProStar hopes to be traded on the NASDAQ.
Along with companies such as Kaart, ProStar is aiming to give its home city a new economic face.
“I will do whatever I can to turn Grand Junction into a tech hub,” Tucker told The Daily Sentinel in 2019. “This is a huge step in that direction.”
In Friday’s news release, Tucker spoke glowingly about the company’s future and its role in what many hope to be a U.S. economy that rebounds from the COVID-19 pandemic.
“With many companies forced to cut back and lay off personnel last year, we were fortunate to expand and grow,” Tucker said in a message to shareholders. “This enables the [c]ompany to be well positioned in 2021 in order to capitalize on what will be the new, post COVID economy.”