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Shell Summary for July 31, 2018

2018-07-31 20:55 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained a fraction to 706.91 Tuesday, but it ended the month down 33.05 points. Terry Donnelly's shell graduate, Hill Street Beverage Company Inc. (BEER: $0.205), began trading today. It reached an intraday high of 28 cents before closing at 20.5 cents on 2.25 million shares. Hill Street is a Toronto company that sells non-alcoholic beer and non-alcoholic wine.

In its fiscal year ended June 30, 2017, Hill Street lost $217,926 on revenue of $1.52-million. Then in the six months ended Dec. 31, 2017, it lost $605,932 on revenue of $972,088. Despite the increased loss, Hill Street boasts on its website that it has so far donated a total of $1.46-million to recipients including the Canadian Liver Foundation.

Charity is not the only trend that Hill Street follows. In April, the company began working with Lexaria Bioscience Corp. (LXX: $2.26) to come up with non-alcoholic, marijuana-infused beer and wine. Hill Street and Lexaria have disclosed neither the terms of their deal nor its progress, but Hill Street will issue 419,982 shares to Lexaria as partial compensation.

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