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Shell Summary for June 13, 2018

2018-06-13 20:16 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.26 points to 760.17 Wednesday. Anthony Lacavera's shell graduate and blockchain investment company, Globalive Technology Inc. (LIVE), began trading today. It reached an intraday high of $1.52 before closing at $1.36 on 6.21 million shares. Globalive invests in, or forms joint ventures with, tech start-ups that are working on blockchain technology, artificial intelligence and the Internet of things. We last discussed some of Globalive's investments and joint ventures in the Shell Summary for June 8, 2018.

In connection with its launch, Globalive sold a $30-million private placement at $1, so it has money for its tech endeavours. Mr. Lacavera, who is best known as the founder of Wind Mobile, subscribed for one million shares. He now holds 42.6 per cent of Globalive's 136.5 million shares. Some shareholders turned over their voting rights to Mr. Lacavera, so he controls 72.5 per cent of voting rights. He is also Globalive's chairman and chief executive officer.

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