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Shell Summary for April 18, 2019

2019-04-18 20:34 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 609.21 Thursday, ending the shortened trading week down 16.43 points. Timothy McCunn's second capital pool shell, Mercal Capital Corp. (MUL: halted), has received shareholder approval for its proposed merger with two companies: Livewell Canada Inc. (LVWL: halted) and Vitality CBD Natural Health Products Inc. Shareholders of Livewell and Vitality have also approved the merger. The three companies are now awaiting approval to list the combined company's shares on the Canadian Securities Exchange under the name Eureka 93 Inc. and the ticker symbol ERKA.

Livewell went public in June, 2018, through Mr. McCunn's first capital pool shell, Percy Street Capital Corp. It billed itself as a soon-to-be marijuana producer, but to this day, Livewell has still not received a marijuana cultivation licence. While waiting for that licence, its two subsidiaries have sold hemp seeds, bell peppers, eggplants, tomatoes, cucumbers and squash, but not profitably. Nevertheless, Percy Street Capital's IPO investors, who need 30 cents to break even, have had sufficient opportunity to get out of their investment with a pleasing profit. Livewell has so far traded between 60 cents and $2.

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