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by Stockwatch Business Reporter

The TSX Venture Exchange fell 11.84 points to 616.97 Monday, a 16-year low for Canada's venture exchange. The previous low occurred in November, 1999, when the TSX-V's predecessor, the Canadian Venture Exchange, closed at 616.185.

Gregory Hewitt's capital pool shell, 71 Capital Corp. (SVN), has received approval from shareholders to roll back its shares 1:2 and then acquire Tom Beckerman's TCB Corp., a Toronto tech company operating under the name Prodigy Ventures. The tech company has launched several businesses, including iVideo, and has developed apps for financial institutions, including CIBC. It is profitable, but not by much. According to audited financials for the fiscal year ended March 31, 2015, Prodigy earned $159,229 on revenue of $2.73-million. The shell says in its recently filed information circular that it hopes to close this QT "in July, 2015, or such other date as may be agreed." 71 Capital has yet to submit a filing statement to provide more specific details about the transaction, so July seems unlikely.

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