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by Stockwatch Business Reporter

The TSX Venture Exchange gained 2.87 points to 794.31 Monday. Craig Leon's halted capital pool shell, Revelstoke Equity Inc. (REQ), plans to acquire Jet Power & Controls Ltd. for the shell's qualifying transaction. Revelstoke, which has 4,289,300 shares issued, will issue 43 million shares to Jet Power's three shareholders: David Sandford, Devon Sandford and Ian Hogg. As a condition for closing the QT, Jet Power must raise at least $1.5-million. It is selling a private placement of five million to 20 million resulting issuer units at 30 cents.

Jet Power, previously called Alpha Power Controls Ltd., began operations in Edmonton in 2007, as a maker of motors and generators. Now, it manufactures electrical power distribution control products, such as switchgears and electrical cabinets. It also builds electrical substations and offers services including basic panel wiring and power system testing. Jet Power's customers are North American municipalities, pipeline companies, refineries and manufacturers. It has five offices, including one in Penticton and one in Houston. In its fiscal year ended Oct. 31, 2015, it earned $1.98-million on revenue of $26.88-million. In the nine months ended July 31, 2016, it earned $782,586 on revenue of $13.61-million.

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