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by Stockwatch Business Reporter
The TSX Venture Exchange gained 3.46 points to 722.20 Tuesday. Mohammad Fazil's second capital pool shell, Elephant Hill Capital Inc. (EH: halted), plans to acquire Podium Advertising Technologies Ltd., an Internet advertising company. The shell will roll back 1 for 2.5, leaving it with 2.8 million shares issued, then issue 40,482,552 shares to its target's sole shareholder. Before this deal can close as the shell's qualifying transaction, the target must sell a $5-million private placement of 10 million postconsolidated shares at 50 cents.
Podium offers software called Adcore that helps companies manage their on-line marketing campaigns. It first released Adcore in 2006. According to Podium, its revenue in 2011 was about $1-million. Five years later, in 2016, it earned $1.17-million on revenue of $10.93-million. Then in 2017, it earned $1.23-million on revenue of $13.08-million. Rare indeed is the shell that finds a QT target with revenues, let alone profits. Podium now has 30 employees across three offices (Tel Aviv, Winnipeg and Melbourne).
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