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Shell Summary for July 29, 2019

2019-07-29 20:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.77 points to close at 591.12 Monday. Mervyn Pinto's first capital pool shell, Kepler Acquisition Corp. (KEP: halted), plans to acquire ESE Entertainment Inc. for the shell's qualifying transaction. The shell will split its shares 1.5 for 1, leaving it with six million shares issued, then issue 23 million shares to its target's shareholders.

ESE Entertainment was formed in late 2018 in Vancouver. It is an e-sports (professional video gaming) company. This type of company typically makes money in the following three basic ways: running a website about video games, selling ads on the website, and sometimes charging website users a subscription fee or other types of fees; managing professional video gamers, who compete in video-gaming tournaments for cash prizes; and hosting video-gaming events in stadiums, where attendees would pay to watch video-gaming competitions live on big screens.

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