08:51:15 EDT Mon 22 Jul 2019
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Symbol C : *MKTSHEL
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Shell Summary for Jan. 10, 2019

2019-01-10 21:19 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.18 points to 596.93 Thursday. Forbes & Manhattan Inc.'s NEX shell, Valencia Ventures Inc., has closed its acquisition of 2292055 Ontario Inc. (doing business as Earthrenew), a company that is promoting electricity generation, cryptocurrency mining and fertilizer production. The resulting issuer began trading today on the Canadian Securities Exchange as Earthrenew Inc. (ERTH: $0.12). Its stock reached an intraday high of 16 cents before closing at 12 cents on 1.05 million shares.

Earthrenew has a facility in Strathmore, Alta., where it was producing electricity for sale to Alberta's energy grid until 2016. In that year, the company lost $572,997 on energy sales of $266,126. The following year, Earthrenew recorded no revenue. It decided not to turn on the turbine at its facility, because it figured that energy prices in Alberta were too low and that it would only lose more money if it produced power.

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