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by Stockwatch Business Reporter

The TSX Venture Exchange rallied 13.90 points to 641.36 Wednesday, but it ended the month down 67.79 points. Richard Grayston's capital pool shell, Red Rock Capital Corp. (RCC: halted), has signed a definitive agreement to acquire Bitrics Global Media Inc., an on-line promotions company, for the shell's qualifying transaction. The shell, which has 31,931,007 shares issued, will issue 21 million shares to its target's shareholders.

Bitrics is billing itself as a digital advertising company, a mobile game and website developer, and an e-sports tournament (competitive video gaming) organizer or host. So far, it appears to have been doing mostly on-line promotions for both public and private companies. From December, 2017, until recently, Bitrics was called Coinbit Blockchain Solutions Inc. Before that, it was called Pulse Financial Publishing Inc.

As Coinbit used to say in its lengthy disclaimers, its business involved getting paid to release "regurgitated" corporate news. Its goal was to provide "high-quality and sophisticated content," but it made no guarantees about whether the content was "accurate, unbiased or complete," so it is unclear how such content could be high quality. In any case, Coinbit's customers have included Quantum Cobalt Corp. (QBOT: $0.095), which paid Coinbit $175,000 last year, and Victory Square Technologies Inc. (VST: $0.63), which paid Coinbit $97,500 (U.S.) last year. Between November and January, Quantum Cobalt went from 80 cents to $1.80 and back down to 40 cents. It is now at 9.5 cents. As for Victory Square, between December and April, its stock went from $1.40 to $4 and back down to $1.20. It is now at 63 cents.

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