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Shell Summary for April 16, 2015

2015-04-16 20:57 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange increased a fraction to 705.59 Thursday. Daniel Dorey's halted capital pool shell, OneCap Investment Corp. (OIC), hopes to acquire a 50-per-cent interest in the MTS data centre as its stolid-appearing qualifying transaction in June. The shell had hoped to close the QT last October.

OneCap will acquire 8432155 Canada Inc. for $12-million, payable in cash and shares. The numbered company owns a 50-per-cent interest in the MTS data centre, a newly constructed 64,000-square-foot building in downtown Winnipeg, with MTS set to become the sole tenant starting June 5. The telecom company has already signed a 15-year lease. The numbered company's joint venturer, Slate Office Real Estate Investment Trust (SOT: $8.17), owns the other 50-per-cent interest in the building. The owners of the building anticipate their investment will generate funds from operations of $2.3-million in the first year. OneCap has yet to receive approval from the exchange to close the deal and it also has yet to sell a $4-million private placement.

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