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Shell Summary for Oct. 16, 2019

2019-10-16 21:39 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed down 2.14 points to 539.05 Wednesday. Arif Shivji's second capital pool shell, Hoist Capital Corp. (HTE: halted), plans to acquire an Australian cryptocurrency promotion, BTC Corporation Holdings Pty. Ltd., for the shell's qualifying transaction. The shell, which has 11.2 million shares issued, will issue 203,793,103 shares to its target's shareholders. Hoist Capital and BTC Corporation are considering a rollback for the shell, in which case the number of shares to be issued to BTC's shareholders will decrease proportionately.

BTC Corporation was founded in 2013. It sells bitcoin and Ethereum tokens at 6,000 locations in Australia, as well as on-line to buyers in Canada and the United Kingdom. It plans to sell bitcoin and Ethereum tokens in more places, including Ireland and Mexico. It also plans to launch a bitcoin exchange platform, where users will be able to sell, not just buy, bitcoin. Today, each bitcoin is worth $8,005 (U.S.), up from $6,457 (U.S.) a year ago. Meanwhile, each Ethereum token is worth $175 (U.S.) today, down from $207 (U.S.) a year ago.

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