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by Stockwatch Business Reporter
The TSX Venture Exchange gained 3.58 points to 924.62 Tuesday.
Ron Schmeichel's 19th capital pool shell,
Mira IX Acquisition Corp., has completed its qualifying transaction, which was a marijuana deal. The shell rolled back 1 for 16.6666667, leaving it with 750,000 postconsolidated shares issued, then it issued 71.38 million postconsolidated shares to its target's shareholders. The resulting issuer, Nuuvera Inc. (NUU), began trading today. It reached an intraday high of $7.50 before closing at $5.96 on 4.19 million shares. Mira IX completed its initial public offering at 10 cents, so an IPO shareholder needs about $1.67 to break even.
Nuuvera has not yet finished building its marijuana cultivation facility in Brampton, Ont. In the meantime, it has a deal to buy up to 17,000 kilograms of marijuana in 2018 from Aphria Inc. (APH: $22.89). Nuuvera also has a 51-per-cent subsidiary, ARA-Avanti Rx Analytics Inc., which owns a 22,000-square-foot lab for testing marijuana products on behalf of licensed producers.
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