New Hilarity Completes Merger

New Hilarity Inc., a dormant Spokane company, Friday completed its merger with Orbit Canada Inc.

Toronto-based Orbit had been private. The merger took the company public.

As part of the deal, New Hilarity executed a 1-for-5 reverse stock split, which resulted in a float of 1.6 million shares.

Several hundred of the shareholders live in Eastern Washington and North Idaho.

Another 12 million shares and 3.6 million warrants were issued to Orbit’s owners.

Orbit provides fiber-optic and wireless telecommunications services. The initial market is eight of Canada’s larger cities.

New Hilarity’s only assets had been some cash and timber.

The merged companies will be renamed Orbit E-Commerce Inc.

New Hilarity stock, virtually untraded before the July announcement of the Orbit Canada deal, closed Monday on the electronic bulletin board at $8.62, up 12 cents.