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by Stockwatch Business Reporter

The TSX Venture Exchange slipped a fraction to 608.24 Wednesday. Praveen Varshney's capital pool shell, Bluerock Ventures Corp. (BCR: halted), plans to acquire a Calgary company called Verabys Inc. for the shell's qualifying transaction. Verabys is working on its own acquisition, that of Plantas Medicinales de Colombia (Plantmedco), an aspiring medical marijuana producer in Colombia. Under the QT, Bluerock Ventures, which has 5,085,000 shares issued, will issue 20,666,667 shares to Plantmedco's shareholders and 15.35 million shares to Verabys's shareholders.

Aside from connecting Plantmedco to the shell, Verabys's contribution to this deal is cash. It is now raising $5-million (U.S.) by selling 12,980,769 shares at about 38.5 U.S. cents. It will send most of the proceeds to Plantmedco. Verabys was formed in Calgary in 2017 to invest in marijuana, specifically Colombian marijuana. It is unclear whether Verabys has any other portfolio investments besides Plantmedco, but we should find out when Bluerock submits its QT filing statement. In January, 2019, Verabys received $350,000 from Roger Dent's marijuana investment firm, Quinsam Capital Corp. (QCA: $0.23). At the time, Quinsam said that Verabys was expecting its first marijuana crop in Colombia in the second quarter of 2019.

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