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Shell Summary for May 13, 2019

2019-05-13 20:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 3.29 points to 596.19 Monday. Al Kroontje's capital pool shell, Big Dougie Capital Corp. (STUV: halted), plans to acquire a Colombian medical marijuana grower called LaSanta Botanicals Ltd. for the shell's qualifying transaction. The complete QT terms are not yet available, but the shell will roll back its 12 million shares, and then the target's shareholders will receive a total of 38,931,704 postconsolidated shares.

LaSanta was formed in Calgary in 2017. It holds Colombian licences to grow marijuana and to manufacture and export marijuana extracts. In Colombia, recreational marijuana is illegal but decriminalized for personal consumption. Colombian marijuana companies may grow marijuana and sell marijuana products but only for medical or scientific research purposes, and only in the form of derivatives such as oils and creams. There are two recent shell graduates that are Colombian marijuana promotions: Pharmacielo Ltd. (PCLO: $8.07) and Blueberries Medical Corp. (BBM: $0.64). Both companies have yet to generate any sales. Pharmacielo went public on the TSX-V in January through Praveen Varshney's capital pool shell, AAJ Capital 1 Corp. Pharmacielo's stock has so far traded between $4.95 and $11.50. Blueberries Medical went public on the Canadian Securities Exchange in February through Pat DiCapo's CSE shell, CDN MSolar Corp. Blueberries Medical has so far traded between 34 cents and 88 cents.

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