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Shell Summary for April 28, 2016

2016-04-28 20:48 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange rose 7.18 points to 665.14 Thursday. Kevin Russell's suspended capital pool shell, Wise Oakwood Ventures Inc. (WOW), has completed its acquisition of Zomedica Pharmaceuticals Inc., a Michigan-based developer of veterinary drugs (for dogs, cats and horses). The acquisition serves as the shell's qualifying transaction. Wise Oakwood rolled back 1 for 2.5, which left it with 1.8 million postconsolidated shares issued, then it issued 77,370,716 postconsolidated shares to Zomedica's shareholders. It also issued 80,000 postconsolidated shares as a finder's fee to Everfront Capital Corp., which classifies itself as a merchant bank and is owned by Josh Gerstein of Toronto. Mr. Gerstein, the merchant bank's merchant banker, is a former broker who also has a capital pool shell of his own, the four-year-old Everfront Ventures Corp. (EVC: $0.05), but this shell has done nothing since February, 2014, when it cancelled its second QT attempt.

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