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Shell Summary for April 14, 2014

2014-04-14 20:12 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 1.77 points to 996.01 Monday. Pat DiCapo's halted capital pool shell, POCML 2 Inc. (PCC), will be the second shell to launch a licensed Canadian medical marijuana producer as its qualifying transaction. It has a letter of intent to acquire Bedrocan Canada Inc., which sells five strains of medical marijuana in Canada at $7.50 a gram, plus tax. Patients receive one shipment a month free of courier charges. Considering the appetite investors have for Chuck Rifici's already-listed licensed medical marijuana company, Tweed Marijuana Inc. (TWD: $2.93), there should be plenty of interest in Bedrocan Canada.

Mr. DiCapo's POCML 2 will roll back its shares 1:2, leaving the shell with three million postconsolidated shares, and then issue 51 million postconsolidated shares to Bedrocan Canada shareholders. The company has a joint venture with Bedrocan BV, a founding shareholder of Bedrocan Canada and also the sole supplier of medical marijuana in Holland. Bedrocan BV, managed by Tjalling Erkelens, supplies Bedrocan Canada with medical marijuana from its pot farm in Holland, and will continue to supply Bedrocan Canada until it begins local production in early 2015. Bedrocan BV became the first company to legally ship cannabis overseas earlier this year. It had to get permission from the Canadian government and the United Nation's International Narcotics Board in Vienna. Even though shipping marijuana is considered illegal by the UN, it allows each of its member countries to import and produce a certain amount of narcotics if there is a need. Bedrocan BV also owns 6.6 million Bedrocan Canada shares. It paid about three cents a share.

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