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by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 716.79 Tuesday. Livio Susin's first capital pool shell, Navion Capital Inc. (NAVN: halted), plans to acquire Hollyweed North Cannabis Inc. for the shell's qualifying transaction. The shell, which has four million shares issued, will issue 84,902,686 shares to its target's shareholders. Before the QT can close, the target must sell a $2-million private placement at $1.

Hollyweed North was formed in December, 2016. Its subsidiary, Hollyweed Grow Inc., is waiting for a marijuana production licence for its cultivation facility in Malahat, B.C., about an hour northwest of downtown Victoria. Another subsidiary of Hollyweed North, Hollyweed Manufacturing and Extracts Inc., received a marijuana dealer's licence in June. This licence allows it to conduct research and development, including formulating and packaging marijuana extracts and other marijuana products. Hollyweed North has three more subsidiaries: Hollyweed Retail Inc. (which plans to offer marijuana supply chain management services), Hollyweed Bakery Inc. (which plans to focus on manufacturing marijuana edibles) and Terracube International Inc.

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