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Shell Summary for Jan. 26, 2015

2015-01-26 20:42 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 3.8 points to 674.39 Monday. David Danziger's halted capital pool shell, Aumento Capital IV Corp. (ACV), will ask shareholders at a Feb. 10 meeting to approve a roll back of its shares 1:2 so that it can close its qualifying transaction by acquiring Matthew Von Teichman's Life Choices Natural Food Corp. The target sells packaged convenient meat products -- hot dogs, burgers, sausages, breaded chicken -- made from animals that are raised without the use of added hormones and antibiotics. Aumento Capital IV will also ask shareholders to approve changing the company's name to GreenSpace Brands Inc. It hopes to close this deal by the end of March.

After Aumento Capital IV rolls back its shares 1:2, leaving it with 804,650 postconsolidated shares, it will issue approximately 14.7 million postconsolidated shares to the shareholders of Life Choices at a deemed $1.36 a share, valuing the target at $20-million. The shell does not yet say who will receive those shares, but it has said that Mr. Von Teichman is the largest shareholder of Life Choices and the only one with more than 10 per cent. He has owned several businesses, including a pub and jobshark.com. He incorporated Life Choices in 1999 and 15 years later it is still considered a "development-stage company," a nice way of saying it is unprofitable. In its fiscal year ended March 31, 2013, Life Choices lost $116,361 on revenue of $2.02-million. In the fiscal year ended March 31, 2014, revenue increased by a smidgen to $2.16-million but the company has not yet disclosed whether it had a profit or a loss for that period, which probably means it had a loss. Updated financials will arrive when the shell submits a filing statement.

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