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by Stockwatch Business Reporter

The TSX Venture Exchange fell 2.21 points to 584.76 Wednesday. Gee Ming Chiang's suspended capital pool shell, Evermount Ventures Inc. (ETV), plans to acquire Meridional TCS Industria e Comercio de Oleos S/A, a Brazilian oleochemical trading and distribution company, as a qualifying transaction. Oleochemicals are nasty stuff, including glycerine, acid oils and fatty acids, which are used to make paint, soap, shampoo, cosmetics and specialty plastics.

Evermount will roll back 1:2, leaving it with 2.15 million postconsolidated shares, and then issue 60 million postconsolidated shares to the shareholders of Meridional. The shell will then change its name to Meridian Oleochemicals Ltd. Leonardo Gardemann and his sister, Patricia Gardemann, will each receive 24,029,457 shares, giving the Gardemanns control over the company. Leonardo, 36, will take over as chief executive officer with a modest salary of $80,000 (U.S.) a year. Before becoming CEO of Meridional in 2006, he worked in marketing for businesses in the pulp and paper industry. Patricia, 39, will take over as the chief financial officer with an even more modest salary of $52,000 (U.S.) a year. She is an accountant who used to work at Deloitte Touche in Sao Paulo, before which she briefly worked as a veterinarian. Both of the Gardemanns will join the board of Evermount when the QT closes; it will be their first time on the board of a public company in Canada. The remaining 11,941,086 shares that Evermount will issue for Meridional will go to Felix Steyskal, an Austrian researcher at the Austrian Institute of Technology.

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