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by Stockwatch Business Reporter
The TSX Venture Exchange lost a fraction to 775.22 Friday, but it ended the week up 9.28 points. Paul Kelly's first capital pool shell, Corporate Catalyst Acquisition Inc. (CII: halted), has submitted a filing statement for its qualifying transaction: It is acquiring Anthony Lacavera's Globalive Technology Partners Inc. The shell will roll back 1 for 6.66, leaving it with 723,789 shares issued, then issue 135,812,422 to its target's shareholders and debenture holders. The parties expect to close the QT on Monday.
Globalive invests in, or forms joint ventures with, tech start-ups. It is focusing on trendy companies that are using artificial intelligence, blockchain technology and the Internet of things. Globalive holds a 32-per-cent interest in Greg D'Alba's VIDL News Corp., which is using AI and blockchain technology to develop a system for weeding out fake news articles before they get distributed on-line. Mr. D'Alba has another job: He is the president of digital ad sales and marketing for CNN News Networks. Globalive also holds a 10.49-per-cent interest in Eigen Innovations Inc., which is working on a way to use AI and blockchain technology to make cars.
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