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Shell Summary for June 25, 2019

2019-06-25 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 10.13 points to 578.99 Tuesday. John Gamble and Bruce Bent's first capital pool shell, Winston Capital Group Inc. (WNST: halted), plans to acquire 2695389 Ontario Corp. for the shell's qualifying transaction. The shell, which has 7.5 million shares issued, will issue 96.18 million shares to its target's shareholders.

Just like the shell, the target has no business yet. 2695389 Ontario is planning to acquire three Dublin entities that together constitute a pharmaceutical distribution business called Lake Health. The three entities are Ocean Healthcare Ltd., Northside Property Management Ltd. and Patton Associated Trading Ltd. Lake Health is an importer and wholesale distributor in the European Union as well as a few non-EU countries in Europe. Notably, its importation and distribution authorization covers "psychoactive products," so perhaps this deal will involve marijuana at some point.

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