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by Stockwatch Business Reporter
The TSX Venture Exchange closed up 1.23 points to 625.64 Friday, but it ended the week down 4.17 points. Kyle Shostak's first capital pool shell, Navigator Acquisition Corp. (NAQ: halted), plans to acquire FCM Global SAS for the shell's qualifying transaction. FCM Global is a Colombian company with a licence to produce and export medical marijuana oil and other extracts. The QT terms are not yet available, except the shell will roll back 1 for 2, leaving it with 8,465,000 shares issued.
FCM Global has a 235,800-square-foot production facility in La Ceja, near Medellin. It hopes to build a second facility on a 450-hectare property in Natagaima, about eight hours south of La Ceja by car. It is likely that FCM Global does not yet have sales. As of late November, it was still in the "final stage" of completing its extraction lab at the La Ceja facility. In any case, the company's financials should become available to investors as part of Navigator's QT filing statement.
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