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by Stockwatch Business Reporter
The TSX Venture Exchange added 15.85 points to 545.55 Thursday. Sean Caulfeild's halted capital pool shell, Maestro Capital Corp. (MCP), plans to acquire Westbridge Structured Mortgage Corp. as its qualifying transaction.
Maestro will issue approximately $1.25-million worth of shares to the shareholders of Westbridge, and the shell must also complete a minimum $10-million private placement before it can close the deal.
Westbridge is an Ottawa company that manages a fund, size undisclosed, which specializes in trading commercial and residential mortgages in major and secondary markets in Canada. The company was incorporated by Westbridge Mortgage Real Estate Investment Trust, which invests in all manner of real estate-based securities. Westbridge's chief executive officer is J.D. Diabira, who started his career as a derivatives risk analyst at the Manitoba Treasury, and later founded Riskmont Credit, an Ottawa company that bought and sold loans.
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