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Shell Summary for Jan. 8, 2018

2018-01-08 21:08 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 25.33 points to 921.04 Monday, rising above 900 for the first time since September, 2014, thanks to marijuana stocks with some help from blockchains and electric cars. The seventh-busiest trader today was a shell graduate, David Lenigas's LGC Capital Ltd. (LG), which leaped up 35 cents to 99 cents on 14.03 million shares after closing a marijuana deal. LGC has invested $4-million in a secured convertible loan to Michel Gaucher's Tricho-Med Corp. (doing business as AAA Trichomes). AAA is an aspiring marijuana producer in Quebec. Its chief executive officer, Mr. Gaucher, is a former grocery chain operator. Once AAA receives its marijuana production licence, it will convert LGC Capital's loan into shares that will then represent 49 per cent of AAA's issued shares. Besides LGC's investment in AAA, LGC also has an interest in a licensed marijuana producer in Australia. It also hopes to develop marijuana- and hemp-based alcoholic and non-alcoholic drinks together with a Swiss company called Creso Pharma Ltd. and a British company called Baltic Beer Company Ltd.

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