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by Stockwatch Business Reporter

The TSX Venture Exchange gained four points to 829.04 Tuesday. Timothy McCunn's halted capital pool shell, Percy Street Capital Corp. (PSC), has submitted a filing statement for its qualifying transaction, which is the acquisition of Bonne O Holdings Inc. The target sells a kitchen appliance that turns water, juice, tea, wine and other drinks into fizzy beverages. The company's name comes from the French phrase "bonne eau," which means "good water." Percy Street Capital will roll back 1 for 3, leaving it with 3.7 million postconsolidated shares issued, then issue 31,059,214 postconsolidated shares to Bonne O's shareholders. On closing, the shell will change its name to Better Beverage Technologies Inc.

Bonne O is based in Toronto. It sells its drink carbonation appliance through Hudson's Bay Company (HBC: $11.89), Canadian Tire Corp. Ltd. (CTC: $162.75), Best Buy and other Canadian retailers. Unfortunately, that exposure has not translated to a healthy income statement for Bonne O. In its fiscal year ended July 31, 2016, it lost $1.52-million on revenue of $521,463. In fiscal 2015, it lost $2.46-million on revenue of $549,501.

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