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by Stockwatch Business Reporter
The TSX Venture Exchange lost 1.15 points to close at 623.07 Thursday. Robert Munro's 10th capital pool shell, County Capital One Ltd. (CCAP: halted), plans to acquire an Israeli Internet advertising agency, Podium Advertising Technologies Ltd. (doing business as Adcore), for the shell's qualifying transaction. The QT terms are not yet available.
Adcore was founded in 2006 by Omri Brill, a computer programmer in Tel Aviv. He remains the company's chief executive officer and sole shareholder. Adcore now has 30 employees. Last year, it won a contract to co-manage advertising campaigns for Israel's Ministry of Tourism for at least five years. The ministry's advertising budget is $25-million a year. Adcore's fellow co-manager is another Tel Aviv advertising agency, Maple Team Ltd., which operates in several countries but not Canada.
As for Adcore, it does have sales reps in cities such as Winnipeg and Melbourne. It boasts of having served "hundreds of clients worldwide." In 2016, the company earned $1.17-million on revenue of $10.93-million. It continued to do well in 2017, earning $1.23-million on revenue of $13.08-million. Few QT targets generate revenues, let alone profits.
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