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by Stockwatch Business Reporter
The TSX Venture Exchange rose 10.80 points to 781.71 Wednesday. Larry Doan and David Smalley's halted capital pool shell, Flying Monkey Capital Corp. (FMK), plans to acquire Humn Pharmaceuticals Inc. for the shell's qualifying transaction. Flying Monkey will roll back 1 for 3, leaving it with 1,870,667 postconsolidated shares issued, then issue between 27.84 million and 29 million postconsolidated shares to Humn's shareholders.
Humn is a Winnipeg company that makes a topical pain relief cream called TPR20. It began developing the cream in 2006, then selling it in Canada in 2009. It hopes to eventually sell the cream in the United Kingdom. Currently, Humn has fewer than 10 employees. It is developing other products, such as a burn relief cream and an itch relief cream.
TPR20 blocks pain and reduces inflammation. It works on cuts and scrapes, insect bites, minor burns, and sunburn. In 2012, the cream was featured on Ottawa's CTV Morning Live, in the healthy living segment. The host interviewed a family doctor and a physiotherapist about TPR20. According to the interview, the cream works not only for muscle and joint pain, but also for "arthritis, canker sores, carpal tunnel, fibromyalgia, gout, migraine headaches, toothaches [and] shingles." Humn (then called Trans Research Labs Inc.) said it became aware of the interview, as well as the many applications of TPR20, only after the fact. In Flying Monkey's news release about this QT, it says that "the different uses that people found for TPR20" were "suprising."
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