07:58:06 EDT Mon 23 Sep 2019
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Shell Summary
Symbol C : *MKTSHEL
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Shell Summary for Sept. 5, 2019

2019-09-05 20:46 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 6.67 points to 586.26 Thursday. Zach Stadnyk's first capital pool shell, DC Acquisition Corp. (DCA: halted), plans to acquire 1219014 B.C. Ltd. for the shell's qualifying transaction. Little information is available so far. The shell simply describes its acquisition target as a company that is working on a "transdermal delivery system for dronabinol and other cannabinoids, and combinations thereof, related to cancer treatments." Dronabinol is a synthetic form of THC (tetrahydrocannabinol), the psychoactive compound in marijuana. Apparently, the shell's target dreams of making marijuana patches for treating cancer. In connection with this QT, the shell hopes to raise up to $10-million by private placement. Financing terms are not yet available, despite the big plans and the big words.

DC Acquisition listed in July, 2018, with a $2.5-million initial public offering at 10 cents. Its founder, Mr. Stadnyk, 27, is the son of David Stadnyk, a promoter and former owner of the Vancouver Whitecaps Football Club (2000 to 2002). More recently, from 2013 to 2014, Mr. Stadnyk Sr. was the president and chief executive officer of a licensed marijuana producer, Supreme Pharmaceuticals Inc., now called The Supreme Cannabis Company Inc. (FIRE: $1.40). Supreme Cannabis toned down its hyping of the medical or pharmaceutical benefits of marijuana, a few months after the federal government legalized recreational marijuana in late 2017.

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