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by Stockwatch Business Reporter

The TSX Venture Exchange gained 2.56 points to 492.43 Thursday. Mark Orsmond's suspended capital pool shell, Movarie Capital Ltd. (MOV), has submitted a filing statement for its qualifying transaction, the acquisition of Shakti Yoga Apparel LLC. Movarie, which has 5,619,166 issued shares, will issue two million shares and pay $250,000 (U.S.) to the owners of Shakti, then change its name to Wellness Lifestyle Inc. Wellness Lifestyle will also remit between 10 and 40 per cent of its gross margin every quarter, until the end of 2019, to the owners of Shakti. Movarie Capital expects to close the QT by Feb. 3. Currently, it is selling an $800,100 private placement of shares at 15 cents to cover acquisition costs and raise working capital for Wellness Lifestyle.

Shakti sells yoga clothes, mainly on-line. Its head office is in the state of Georgia, and it outsources the manufacturing of its products to two clothing suppliers in Rio de Janeiro. In 2014, Shakti's second full year of operations, it earned a modest $49,293 (U.S.) on revenue of $849,138 (U.S.). Unfortunately, in the nine months to Sept. 30, 2015, it took a step backward, losing $14,828 (U.S.) on revenue of $520,550 (U.S.).

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