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by Stockwatch Business Reporter

The TSX Venture Exchange lost 11.85 points to 626.42 Tuesday. Three capital pool shells have closed their qualifying transactions. First, Brian Bayley and Murray Sinclair's Norwick Capital Corp. has launched Converge Technology Solutions Corp. (CTS: $0.92). Second, Jonathan Younie's Baetis Ventures Ltd. has launched RE Royalties Ltd. (RE: $1.10). Third, Rana Vig's Blue Bay Capital Inc. has launched Specialty Liquid Transportation Corp. (SLT: $0.42).

Converge Technology is an information technology services firm. Its head office is in Toronto, and it has subsidiaries in Ottawa, Gatineau, Atlanta, Los Angeles and Silicon Valley. In connection with its launch, Converge raised $5.5-million at 80 cents. It is working to acquire a cloud services and cybersecurity company called Essextec in New Jersey. Converge's chief executive officer, Shaun Maine, previously spent six years with another IT services firm, Pivot Technology Solutions Inc. (PTG: $1.01), as its chief operating officer and chief technology officer.

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