This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange climbed 11.36 points to 783.64 Tuesday. Mitchell Smith's suspended capital pool shell, Sceptre Ventures Inc. (SVP), plans to acquire Vancouver app developer SmartShare Solutions Inc. for the shell's qualifying transaction. Sceptre will roll back 1 for 3, leaving it with 3,931,921 postconsolidated shares issued, then issue 15 million postconsolidated shares to SmartShare's shareholders. Before the acquisition can close, Sceptre must sell a $1.1-million private placement of shares at 10 cents. The resulting issuer will use the proceeds for business development.

SmartShare is working on a mobile app called Garage, which is not yet available to download unless you have a promo code. Garage is like Airbnb but for parking spaces instead of lodging. Users of Garage can list unused parking spaces that they own (whether in residential driveways, condos, alleys, or school or church parking lots), then other users can rent those spaces. Owners set the prices, and they also specify when their parking spots are available to rent (for example, weekdays before 6 p.m.). Payments are made through the app. SmartShare has tested the app in Seattle and Vancouver. It says the app has over 200 parking spaces listed. Under SmartShare's deal with Sceptre, if Garage reaches an inventory of 5,000 parking spaces or records an annualized revenue of at least $1-million, then SmartShare's shareholders will receive another five million shares of the resulting issuer.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS