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Shell Summary for April 16, 2018

2018-04-16 20:16 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 6.02 points to 801.96 Monday. Amar Bhalla's halted Carlaw Capital V Corp. (CVC) has an update on its qualifying transaction. The company plans to acquire licensed marijuana grower Natural Med Company, which has a 120,000-square-foot greenhouse on 32 acres of land near London, Ont. In connection with the QT, Natural Med sold $5-million worth of shares at 50 cents in December. Carlaw says three of its directors, Mr. Bhalla, Ravi Sood and Richard Kimel, will remain on the board at closing.

Mr. Sood is a Hong Kong-based promoter and the chairman of Blockchain Power Trust (BPWR: $0.28), a Romanian renewable energy producer turned bitcoin miner. He is also a director of Uruguayan marijuana grower ICC Labs Inc. (ICC: $1.42) and Congolese palm oil promotion Feronia Inc. (FRN: $0.29). Mr. Kimel is a corporate lawyer at Aird & Berlis LLP in Toronto. He held the unfortunate title of corporate secretary at Sino-Forest Corp. in June, 2011, when Carson Block of Muddy Waters LLC declared Sino-Forest a fraud.

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