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by Stockwatch Business Reporter
The TSX Venture Exchange rose a fraction to 623.73 Monday. Dr. John Veltheer and
Francesco Aquilini's first capital pool shell, J55 Capital Corp. (FIVE: halted), plans to acquire Aquilini GameCo Inc., which in turn is acquiring Luminosity Gaming Inc. For this qualifying transaction, the shell will roll back 1 for 1.25, leaving it with 15.2 million shares issued, then issue 159,011,600 shares to Aquilini GameCo's shareholders. The shell will also issue 60 million shares to the founder and owner of Luminosity, Steve Maida. In connection with these two acquisitions, which will ultimately result in the launch of Luminosity on the TSX-V, Aquilini GameCo must raise $15-million at 30 cents.
Mr. Aquilini is a director and the largest shareholder of both J55 Capital and Aquilini GameCo. Dr. Veltheer, a chemist, is identified as the shell's promoter, secretary and chief financial officer.
Luminosity was founded in 2015 in Toronto. It manages professional e-sports players and teams. One of its teams, the Vancouver Titans, is competing against 19 other teams in the Overwatch League. Overwatch is a popular first-person-shooter video game created by Blizzard Entertainment Inc. The 2019 season of the Overwatch League began two weeks ago and will run until August. In the 2018 season (the league's first season), 12 teams played. The two lowest-ranking teams each received $25,000 (U.S.) for playing in the regular season. The season final champion, London Spitfire, received $100,000 (U.S.) for placing fifth in the regular season, another $100,000 (U.S.) during the playoffs and $1-million (U.S.) for defeating the Philadelphia Fusion in the final series.
That's good money for having a good time.
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