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Shell Summary for Sept. 16, 2016

2016-09-16 20:33 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 3.38 points to 799.24 Friday, ending the week down 12.92 points. Two capital pool shells have announced qualifying transactions. First, Stuart Wooldridge's suspended Yuntone Capital Corp. (YTC) plans to acquire Connection Services Group Inc. Second, Daniel Whittaker and Wade Dawe's halted Northwest Arm Capital Inc. (NWA) plans to acquire a mining property in central Newfoundland from a subsidiary of Altius Minerals Corp. (ALS: $9.93).

Mr. Wooldridge's Yuntone Capital, which has 3,411,200 shares issued, will issue up to 15,375,000 shares to Connection Services' shareholders. The target is a Colorado company that hopes to provide wireless Internet connections, Internet apps and content (including education and health care content, tailored for rural areas), and Internet security and technical support.

The resulting issuer will have at least five directors, of whom four will be Connection Services nominees and one will be a Yuntone nominee. None of the nominees has been identified, and information about the directors and shareholders of Connection Services is not yet available. These details should arrive when the shell submits a QT filing statement.

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