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by Stockwatch Business Reporter

The TSX Venture Exchange added 1.12 points to 553.38 Tuesday. Praveen Varshney's halted eight-year-old capital pool shell, Genview Capital Corp. (GVW), will ask shareholders at a Nov. 23 meeting to approve its acquisition of Dharma Distributors Ltd., doing business as Hempco Canada Superfoods. The shell seems confident this qualifying transaction will close, having already submitted a draft filing statement to the exchange.

Genview plans to roll back 1:2, leaving it with 4.2 million postconsolidated shares, and then issue 20 million postconsolidated shares to Dharma's two shareholders, Charles Holmes and his sister, Angela Holmes. Dharma is a manufacturer and distributor of hemp food products such as bulk hemp seeds, hemp protein powder and hemp oil. It also recently launched a line of retail products under the brand name PlanetHemp. The company has not provided audited financials just yet, but according to Hempco's marketing material, it projects revenue of $4.5-million this year and claims to be "already generating profits for shareholders," all two of them. There will be more shareholders shortly. Dharma says it has already closed a $225,000 first tranche convertible note financing and it expects to close a second tranche of up to $500,000. The notes will convert into postconsolidated shares of Genview when the QT closes. Genview is also trying to round up investors for a $1.2-million private placement of three million shares at 40 cents in connection with closing the QT.

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