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Shell Summary for June 21, 2019

2019-06-21 19:56 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange slipped a fraction to 592.57 Friday, ending the week up 4.73 points. David Henderson's first capital pool shell, CE Brands Inc. (CEBI: halted), plans to acquire eBuyNow eCommerce Ltd. for the shell's qualifying transaction. The shell, which has 8.6 million shares issued, will issue 395,079,355 shares to its target's shareholders. Immediately afterward, the resulting issuer will roll back 1 for 10, leaving it with 40,367,935 shares issued.

eBuyNow is a Victoria, B.C., company. It manufactures private-label consumer electronics, including Kodak security cameras, Kodak baby monitors and Motorola watches. It sells the products through Amazon and other on-line retailers. As of August, 2018, it was also selling products in brick-and-mortar retail stores in 24 countries. Among the other products that it has designed and manufactured are headsets and cameras for Microsoft, and cameras for Samsung, Toshiba, Panasonic and Sharp. We should see eBuyNow's financials when the shell submits its QT filing statement.

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