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Shell Summary for Aug. 8, 2019

2019-08-08 20:46 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.00 point to close at 596.33 Thursday. Steve Mintz's first capital pool shell, 22 Capital Corp. (LFC: suspended), expects to close its qualifying transaction any day now. Specifically, its expected closing date is Aug. 9. For the shell's QT, it is acquiring a cannabis-focused lending firm in Toronto called Trichome Financial Corp. The shell will roll back 1 for 14.24347, leaving it with 751,221 shares issued, then issue 16,473,903 shares to its target's shareholders.

Trichome was formed in September, 2017. It is a subsidiary of CannaRoyalty Corp. (OH: $7.58), doing business as Origin House. CannaRoyalty trades on the Canadian Securities Exchange and has so far focused on marijuana distribution in California. It co-founded Trichome with Aaron Salz's cannabis-focused corporate finance advisory firm, Stoic Advisory Inc., though neither Mr. Salz nor Stoic Advisory remains an insider of Trichome. On closing of the QT, CannaRoyalty will be the largest shareholder of the resulting issuer. It will hold just under 5.77 million shares or 23.7 per cent on closing.

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