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by Stockwatch Business Reporter

The TSX Venture Exchange fell 3.39 points to 700.09 Monday. Greg Andrews and Marcus New's suspended capital pool shell, Elevation Capital Corp. (ELE), has decided to complete a qualifying transaction by spending its remaining treasury on units of an already-listed TSX-V company, Sora Capital Corp. (SOR).

Elevation plans to spend $476,000 on 2.8 million Sora units at 17 cents. Each unit will comprise one share and one-half of a warrant; whole warrants will be exercisable at 20 cents for two years. After the private placement closes, the shell will distribute the Sora units to Elevation shareholders pro rata, after which it will delist and dissolve. The shell currently has 8,877,000 shares outstanding, which means shareholders will receive about 0.3 of a Sora share, worth 5.1 cents, for each Elevation share held. Last year, Sora rolled back 1:10 and became an investment company. So far it has positions in two tech companies, Rosterbot Inc. and Helphub Services Inc.

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