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Shell Summary for May 2, 2016

2016-05-02 20:28 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 3.58 points to 671.29 Monday. Anton Konovalov's halted capital pool shell, Dominion General Investment Corp. (DGA), has submitted a filing statement for its qualifying transaction. The shell is acquiring Peter Deeb's Hampton Equity Partners Ltd., the sole shareholder of 20-year-old Toronto investment dealer Hampton Securities Ltd. On closing of the QT, the shell will change its name to Hampton Financial Corp.

Hampton Financial will have two classes of shares: multiple voting shares, which will carry 20 votes a share, and subordinate voting shares, which will carry one vote a share. The holders of Dominion General's 2,591,700 issued shares will receive subordinate voting shares of Hampton Financial at a ratio of 1 for 1. To acquire Hampton Equity, Dominion General will issue 15,149,845 multiple voting shares and 8,618,670 subordinate voting shares to Hampton Equity's shareholders. Mr. Deeb's Deeb & Co. Ltd. will receive all of the multiple voting shares plus 476,500 subordinate voting shares, giving Mr. Deeb about 95 per cent of voting rights of the resulting issuer.

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