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by Stockwatch Business Reporter

The TSX Venture Exchange climbed 12.41 points to 801.93 Thursday. Moe Dilon's halted capital pool shell, Wangton Capital Corp. (WT), has firmed up its acquisition of Colombian ad agency Ideas Through Iris SAS. The acquisition will be the shell's qualifying transaction. Under a definitive agreement, Wangton, which has 9,270,083 issued shares, will issue six million shares to Ideas' shareholders. The shell will also issue two million shares to Ideas' chief strategy officer, Pedro Tosin, for an option to buy up to 75 per cent of a production studio, Oruga Touching Dreams SAS. Mr. Tosin is an executive producer at Oruga. If Ideas Through Iris obtains a valuation of at least $2.5-million (U.S.), then Wangton Capital will issue another two million shares to persons of Ideas' choosing.

As a condition of the QT, the shell must provide at least $1.5-million (U.S.) of capital to Ideas. Of this amount, $345,000 (U.S.) will be a secured, one-year bridge loan. On March 31, 2016, Wangton had working capital of $535,267. To finance its required capital contribution, it is selling a $2.5-million private placement of units at 25 cents.

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