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Shell Summary for May 10, 2019

2019-05-10 21:17 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange rallied 7.37 points to 599.48 Friday, but it nevertheless ended the week down 6.94 points. Darren Stark and Edward Ierfino's capital pool shell, Anchor Capital Corp. (ANC: halted), has submitted a filing statement for its qualifying transaction, which is the acquisition of Spyder Vapes Inc. The shell, which has 4,514,000 shares issued, will issue 32,359,898 shares to its target's shareholders and debenture holders.

Spyder was founded in August, 2014, by Daniel Pelchovitz, now 29. It operates three vape stores in Ontario: one in each of Woodbridge, Burlington and Scarborough. It sells e-cigarettes, e-liquids (150 flavours of them) and related accessories. Mr. Pelchovitz has personally concocted at least six of the company's proprietary flavours. So far, none of Spyder's e-liquids contains marijuana. In the company's fiscal year ended Jan. 31, 2018, it lost $361,925 on revenue of $739,527. In the nine months to Oct. 31, 2018, it lost $256,185 on revenue of $710,713.

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