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Shell Summary
Symbol C : *MKTSHEL
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Shell Summary for Dec. 19, 2018

2018-12-19 19:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.28 points to 541.87 Wednesday. Zula Kropivnitski's capital pool shell, Spirit Bear Capital Corp. (SBG: halted), has announced a potential qualifying transaction, but there are few details available so far. The shell plans to acquire an aspiring hemp producer called Gaia Investments Inc. Gaia has a six-week-old website containing only a brief paragraph about the company's "driving mission" to produce hemp in Canada. Spirit Bear, which has 28.8 million shares issued, will issue 120 million shares to Gaia's shareholders. Before the QT can close, Gaia must receive licences to grow hemp and sell hemp products. In connection with its going public, Gaia plans to sell a $4-million private placement at 10 cents.

Spirit Bear listed in May, 2012, with a $300,000 initial public offering at 10 cents. It was founded not by Ms. Kropivnitski but by Michael Waldkirch, an accountant and one-time shell-maker, who left the shell in November, 2017. His successor, Ms. Kropivnitski, is also an accountant. She is the chief financial officer of a Burkina Faso gold explorer, Nexus Gold Corp. (NXS: $0.085). She is also the CFO and a director of a blockchain and cryptocurrency investment firm, Planet Ventures Inc. (PXI: $0.055), which has seen its stock decline from 29 cents in the past year. (Even at the height of the craze, the stock did not do so well.) Planet Ventures has since taken the words "blockchain" and "cryptocurrency" out of its self-description, replacing them with the phrase, "disruptive companies and industries that have high growth potential." One's corporate goals should never be so specific as to be easily made obsolete.

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