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by Stockwatch Business Reporter

The TSX Venture Exchange lost 8.89 points to 563.49 Monday. Wade Nesmith's second capital pool shell, Creation Capital Corp. (CRN: halted), plans to acquire Greenlane Biogas North America Ltd. for the shell's qualifying transaction. The shell will pay five million British pounds sterling, issue a 4.1-million-pound promissory note and issue two million pounds worth of shares (at a price that has not yet been set). To finance the acquisition, the shell expects to sell a $10-million private placement. It has not yet set the price.

Greenlane sells three kinds of products for upgrading biogas (which is fermented organic waste) into high-purity biomethane or renewable natural gas (RNG). The high-purity biomethane and RNG can then be used as vehicle fuel or to produce electricity. Greenlane was founded in 1986 in New Zealand. In 2009, it opened its office in Vancouver. In 2014, it was acquired by Pressure Technologies PLC, a British manufacturer of industrial valves, high-pressure steel cylinders and other machine components, mostly for energy and defence companies. In 2016, Greenlane received its 100th order since the company was formed 30 years earlier. It has sold its biogas upgrading systems to customers in 18 countries.

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