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by Stockwatch Business Reporter

The TSX Venture Exchange gained 4.54 points to 604.05 Wednesday. James McRoberts's first capital pool shell, Haw Capital Corp. (HAW: halted), has filed an information circular for its shareholders meeting to be held on Nov. 30. The shell will seek approval from its shareholders for a rollback and a name change in connection with its qualifying transaction, which is the acquisition of Merrco Payments Inc., a payment processing company in Calgary. Merrco will also hold its shareholders meeting on Nov. 30 to seek approval for the acquisition. Merrco and Haw expect to close the QT on the same day.

Haw Capital will roll back 1 for 33.33, leaving it with 406,200 shares issued, then issue 23,820,705 shares to Merrco Payments' shareholders. In connection with the QT, Merrco is raising $30-million by selling $17-million worth of subscription receipts at $15 and $13-million worth of debentures. Each subscription receipt will convert into three shares of the resulting issuer, which will be called Merrco Payfirma Corp., so the adjusted cost for the financing subscribers will be $5 a share. As for the debentures, they will be convertible into shares of Merrco Payfirma at $6.25 each.

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