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by Stockwatch Business Reporter

The TSX Venture Exchange fell 6.50 points to 764.87 Thursday. Brad Docherty's halted capital pool shell, Exito Energy II Inc. (EXI), plans to acquire Millennium Stimulation Services Ltd., a Calgary oil and gas services company, as its qualifying transaction.

The shell will roll back its shares 1:18, leaving Exito with 555,556 postconsolidated shares issued, and then issue 45,044,637 postconsolidated shares at a deemed price of $2.25 a share to the shareholders of Millennium. The target's services are typical for the oil patch: it offers hydraulic fracturing, coiled tubing and completion services to oil and gas companies in Alberta and Saskatchewan. It also operates two sand storage facilities, one in Medicine Hat, Alta., and the other in Estevan, Sask. Millennium, incorporated in early 2012, started doing business in early 2013. In the three months ended Sept. 30, 2014, it lost $3.42-million on revenue of $9.56-million according to unaudited financials.

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