05:37:06 EDT Mon 19 Aug 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Shell Summary
Symbol C : *MKTSHEL
Recent Sedar Documents

Shell Summary for July 24, 2019

2019-07-24 21:13 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange gained 4.19 points to close at 593.15 Wednesday. Eugene Hodgson and David Smalley's capital pool shell, Efficacious Elk Capital Corp. (EECC: halted), plans to acquire Frontier Wellness Management Inc. for the shell's qualifying transaction. The shell will roll back 1 for 1.7, leaving it with 3,588,238 shares issued, then issue 22,701,650 shares to its target's shareholders. The shell will also issue 24 million shares to Maeva SL, a Spanish company from which Frontier Wellness is acquiring a CBD (cannabidiol) business.

The shell's direct acquisition target, Frontier Wellness, was formed in Vancouver only five months ago. It is in the process of acquiring from Maeva a Spanish CBD products retailer called Rucal SL. Frontier Wellness, which has at least $1.7-million in the bank, will lend two million euros to Rucal for working capital. Frontier will also make a one-million-euro equity investment in Rucal. In connection with Frontier's going public, it must raise $1.3-million at 25 cents or higher. In a separate financing, Frontier and Elk Capital together must raise $3-million. So far, they plan to sell shares at 25 or 30 cents. The money that the shell and its target will raise will help finance Rucal's business.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.