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by Stockwatch Business Reporter
The TSX Venture Exchange rose 14.41 points to 807.28 Wednesday. Jessica Zhang's halted capital pool shell, CUP Capital Corp. (CPU), has filed a preliminary prospectus for an offering of 4,687,500 to 15,625,000 units at 64 cents. It is raising between $3-million and $10-million in connection with its qualifying transaction, which is the acquisition of German Battery & Lighting Technologies PLC. The shell, which has 1,734,650 shares issued, will issue a handsome 95,474,083 shares to its target's shareholders. The resulting issuer will be called a less-than-handsome GBLT Corp.
German Battery PLC manufactures private-label batteries, chargers, mobile energy storage devices (the kind that you would bring on a camping trip), solar panels and lights. Its brands include Polaroid, AgfaPhoto and Maglite. In 2015, it earned 161,613 euros on revenue of 25.04 million euros. Unfortunately, in the nine months that followed, it didn't do even that well: It lost 735,146 euros on revenue of 13.57 million euros.
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