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Shell Summary for Nov. 25, 2014

2014-11-25 20:53 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange declined 6.86 points to 780.64 Tuesday. Larry Phillips's halted capital pool shell, Niagara Ventures Corp. (NIA), has signed a definitive agreement to acquire Blu-Dot Beverage Corp. as its qualifying transaction. The companies hope to complete the deal by Dec. 5.

The shell, with 12,753,532 shares outstanding, will issue 7,162,500 shares to the shareholders of Blu-Dot, which will then become a subsidiary of Niagara. Blu-Dot sells bottled Protein Tea drinks at grocery stores across Canada including Bulk Barn, Longo's and select Whole Foods (four). Each 473-millilitre bottle contains 12 grams of protein and six grams of fibre. As well, to keep the sugar amount on the label down to one gram, the company sweetens some of its drinks with stevia extract, a sugar substitute. So far, Blu-Dot's sales are not so sweet. In the six months ended June 30, 2014, the company lost $205,239 on revenue of $72,838.

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