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Shell Summary for Oct. 1, 2019

2019-10-01 21:15 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 3.77 points to close at 554.91 Tuesday. Mihalis (Mike) Belantis's second capital pool shell, Rebel Capital 2.0 Corp. (RBZ: halted), plans to acquire a pharmaceutical start-up called Alzex Biomedical Inc. for the shell's qualifying transaction. The shell will roll back 1 for 2, leaving it with 2,006,664 shares issued, then issue 35,919,199 shares to its target's shareholders.

Alzex Biomedical is working on treatments for Alzheimer's disease. It is developing two potential drugs in partnership with a French pharmaceutical researcher called VFP Therapies. So far, VFP has tested the two potential treatments in animals. VFP has a research lab in Rouen, France. Its partner, Alzex, explains that one of the goals of the partnership is to develop drugs with fewer side effects than existing treatments have. Basically, Alzex and VFP's drugs are designed to start working only after they cross the blood-brain barrier, not before. To raise money for their research, Alzex plans to sell a $2.5-million private placement at 25 cents.

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