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Shell Summary for July 31, 2019

2019-07-31 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.17 points to close at 591.66 Wednesday, but it ended the month up 6.19 points. Sheldon Pollack and Adam Adamou's first capital pool shell, OV2 Investment 1 Inc. (OVO: halted), plans to acquire Freightera Logistics Inc. for the shell's qualifying transaction. The shell, which has 10 million shares issued, will issue 85,000,259 shares to its target's shareholders.

Freightera was formed in Vancouver in 2014. It operates a website where companies can get freight transport quotes and book freight transport services by truck or rail, from 800 carriers. Freight transport services are available within Canada and the United States. According to Freightera's website, it has received 12,910 bookings from 9,900 customers to date. It boasts of having an average annual revenue increase of 217 per cent from 2014 to 2017. Profit and loss information is not yet available. In any case, the company hopes to eventually add air and ocean transport options to its website.

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