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by Stockwatch Business Reporter

The TSX Venture Exchange fell 13.15 points to 854.83 Tuesday, its lowest point since the spring of 2009. The next level of resistance is 678.62, which is where the TSX-V bottomed in 2008. Gee Ming Chiang's halted capital pool shell, Evermount Ventures Inc. (ETV), is heading to Brazil to acquire Meridional TCS Ind. e Com. de Oleos S/A as its qualifying transaction.

The shell will roll back its shares 1:2, leaving it with 2.15 million postconsolidated shares, and then issue 60 million postconsolidated shares to Meridional shareholders. The target is an oleochemical trading and distribution company in Londrina, Brazil. Oleochemicals include crude glycerine, esters, acid oils and fatty acids. The bulk of Meridional's business is shipping crude glycerine to Chinese buyers, which then convert the product into refined glycerine, an intermediate material for resins, paint, antifreeze and cleaning products. So far, there are no financials for investors to see if Meridional is profitable. The shell says it anticipates providing more details about Meridional -- directors, management, shareholders and financial information -- in 15 days. Leonardo Nasser Gardemann, a Brazilian, is the chief executive officer of Meridional, where he has worked since 2006. Before that he worked in marketing for businesses in the pulp and paper industry.

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