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by Stockwatch Business Reporter

The TSX Venture Exchange inched up 1.31 points to 475.05 Thursday. This is the first time in nine trading days that the exchange has been in the green.

Simon Yakubowicz's halted capital pool shell, Cluny Capital Corp. (CLN), plans to acquire Pizza Couture Inc. for its qualifying transaction. The terms of the acquisition are not yet available, except Pizza Couture must sell a $1.2-million private placement as a condition of the deal. Cluny Capital expects to lend $225,000 to the target. Pizza Couture is the owner of a restaurant in Vaughan, Ont., that sells (or will sell) pizzas, Italian wines and local craft beers. It is not yet clear whether the restaurant is already in operation. Pizza Couture's website, which was created in May, 2015, and its Facebook page, which was created in September, 2015, are both blank, apart from an address, a phone number and a logo showing two lions.

Pizza Couture's vice-president of operations is Hilary Vieira, a software engineer. From 2000 to 2007, he was the president of Star Navigation Systems Group Ltd. (SNA: $0.02), the developer of an in-flight safety monitoring system called Star-ISMS. Mr. Vieira is one of the two holders of the Star-ISMS patent, the other being Viraf Kapadia, an accountant and the chief executive officer of Star Navigation from 2000 to this day. In 2007, Star Navigation terminated Mr. Vieira "for cause." In connection with his dismissal, he sued the company for breach of contract. Mr. Vieira also said that firing him meant Star Navigation's licence for Star-ISMS was no longer in force. The company disagreed about the status of its Star-ISMS licence, and responded with a counterclaim over Mr. Vieira's conduct during and after his presidency. After some legal back-and-forth, in 2009, Star Navigation and Mr. Vieira agreed to drop all their claims against each other. As part of their settlement, the company paid Mr. Vieira $116,000 and issued one million shares at a deemed six cents a share, for a total settlement value of $176,000. For his part, Mr. Vieira transferred his interest in the Star-ISMS patent to his co-inventor, Mr. Kapadia. At the end of the two-year scuffle, Star Navigation emerged quite smug. It boasted saving over $500,000, because in fact it owed its ex-president more than $676,000. Today, Star-ISMS is still in development. Star Navigation's revenue comes from selling flat-panel displays for flight decks. Meanwhile, Mr. Vieira has had a string of what he describes as business development and operations positions with various Toronto companies since 2007.

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