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Shell Summary for Aug. 6, 2019

2019-08-06 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.05 points to close at 594.69 Tuesday. Ravinder Mlait's first capital pool shell, Brockton Ventures Inc. (BROC: halted), plans to acquire Myesports Ventures Ltd. for the shell's qualifying transaction. The shell, which has 4.55 million shares issued, will issue 47 million shares to its target's shareholders.

Myesports was founded last year. On June 28, 2019, it opened an e-sports (competitive video gaming) arena called The Gaming Stadium in Richmond, B.C. The arena covers 8,000 square feet and has 60 computers. Since the opening date, Myesports has hosted about 30 events at the arena. Tonight, it will host a competition for a video game called Fortnite. It will give away $300 worth of prizes ($140, $100 and $60 for the top three teams, each comprising two players). There is an entry fee of at least $40 per team.

For the next four nights, Myesports will host competitions for the following video games: Overwatch, Counter-Strike: Global Offensive, StarCraft II and Magic: The Gathering Arena. Entry fees range from $10 to $20 per player. For the Saturday event, the prize pool is more than twice as large as on any of the weeknight games; Myesports will give away $1,000 worth of cash prizes plus $160 worth of non-cash prizes. On Sunday, Myesports will host smaller competitions for two video games: Rocket League and Teamfight Tactics. At the moment, Myesports typically does not charge an admission fee for those who simply want to watch the competitions.

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