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Shell Summary for Aug. 14, 2019

2019-08-14 20:57 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange dropped 9.71 points to close at 577.69 Wednesday. Laurence Rose's first capital pool shell, ADL Ventures Inc. (AVI: halted), plans to acquire Real Technology Broker Ltd. for the shell's qualifying transaction. The QT terms are not yet available, but the shell plans to roll back its 9.1 million issued shares. On closing of the QT, ADL Ventures' shareholders will hold 8 per cent of the resulting issuer's shares, while Real Technology's shareholders will hold 92 per cent.

Real Technology was founded in 2014. It is incorporated in Israel, but it operates mostly in the United States. It has an app called Real Broker, Real Agent or Real, which enables real estate agents to search and view listings, advertise their own listings, chat with potential buyers or sellers, manage appointments, make or receive referrals, perform accounting tasks, prepare reports, view market analyses, and access a few other features. According to Real Technology, there are about 1,100 U.S. real estate agents using its app. In some states, the company goes by the name Real Broker LLC or Real Brokerage Technologies Inc. Previously, it was called Realtyka LLC.

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