03:40:18 EDT Fri 29 Mar 2024
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Shell Summary for April 29, 2019

2019-04-29 21:00 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.38 points to close at 612.07 Monday. Steven Mintz's first capital pool shell, 22 Capital Corp. (LFC: halted), has released the terms of its qualifying transaction, which is the acquisition of a Canadian marijuana investment firm called Trichome Financial Corp. The shell will roll back 1 for 14.24347, leaving it with 711,905 shares issued, then issue 16,473,903 shares to its target's shareholders. In connection with Trichome's going public, it is selling a $15-million to $30-million private placement of resulting issuer shares at $2.10.

Trichome is a subsidiary of CannaRoyalty Corp. (OH: $12.98), also called Origin House. CannaRoyalty trades on the Canadian Securities Exchange and focuses on marijuana marketing and distribution in California. On closing of the QT, it will hold 5,769,132 shares of the resulting issuer or 21.6 per cent (assuming closing of a $15-million private placement).

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