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Shell Summary for May 3, 2019

2019-05-03 20:41 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 5.14 points to 606.42 Friday, but it ended the week down 4.27 points. Dennis Nerland's fifth capital pool shell, Arkadia Capital Corp. (AKC: suspended), plans to acquire a Calgary tech firm called Oasis Technology Inc. for the shell's qualifying transaction. This QT will involve a deluge of paper. The shell, which has 6,523,343 shares issued, will issue between 292,062,500 and 660 million shares to its target's shareholders.

Oasis was formed in Calgary in 2017. It offers a data management system called Oasis FYI, a surveillance system called Owl and an environmental monitoring system called Bullfrog. The last one, Bullfrog, uses sensors to enable oil and gas explorers and their regulators to keep track of air, water and soil conditions. Oasis is a subsidiary of the 25-year-old Cantest Solutions Inc., a service provider to energy companies. Cantest's services include tank and pump inspection, leak detection and investigation, precision testing and calibration, and inventory management.

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