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by Stockwatch Business Reporter

The TSX Venture Exchange added a fraction to 521.16 Monday. Larry Doan and David Smalley have found a potential qualifying transaction for their halted capital pool shell, Marching Moose Capital Corp. (MMC). The shell plans to acquire Empower Environmental Solutions Ltd. in exchange for equity. First, it will roll back 1 for 2, leaving it with 1,820,002 postconsolidated shares issued, then it will issue 31,722,745 postconsolidated shares to the holders of Empower. The shell will also sell a $2.5-million to $2.9-million private placement of postconsolidated shares at 40 cents and assume the name of its target.

Empower has developed its own method for recycling and separating the components of asphalt shingles, a common roofing material. Typically these shingles contain liquid asphalt (about 24 per cent), fibreglass (20 per cent), limestone or silica sand (4 per cent), oil-based adhesives (2 per cent), and aggregates (50 per cent). Empower hopes to sell the components to shingle manufacturers, asphalt pavers and other industrial companies. It has leased a five-acre property in Delta, B.C., including a two-acre building that it hopes to turn into a recycling plant and offices. Marching Moose has not yet released financial information for Empower, but the shell says the target raised $1.03-million in an August, 2015, private placement.

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