This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Stockwatch Business Reporter
The TSX Venture Exchange closed up 2.78 points to 598.74 Friday, ending the week up 31.54 points. Eva Koci's first capital pool shell, Klinik Health Ventures Corp. (KHV: halted), has completed its qualifying transaction. It has acquired 2576560 Ontario Inc., an operator of 12 chronic pain management clinics in Southern Ontario. The clinics provide pain medication (such as painkiller injections), pain management courses and marijuana. So far, 2576560 Ontario is not profitable. It lost $5.31-million on revenue of $49.64-million in 2019.
Under its QT, Klinik Health Ventures rolled back 1 for 5, leaving it with 3,869,500 shares issued, then it issued 24,281,488 shares to its target's shareholders and convertible debenture holders. The combined company, now called Neupath Health Inc., expects to begin trading under that name and with the ticker symbol NPTH on July 6, pending final TSX-V approval.
The second-largest shareholder of Neupath is Bloom Burton & Co. Inc., a health-care-focused investment bank in Toronto. It holds 4.42 million shares or 15.7 per cent. Bloom Burton's president, Jolyon Burton, 44, has joined the board of Neupath. Elsewhere in the markets, Bloom Burton's subsidiary, Bloom Burton Securities Inc., is raising $25-million at 40 cents for Antibe Therapeutics Inc. (ATE: $0.395), a Toronto firm that is working on potential treatments for pain and inflammation. Antibe's president and chief executive officer, Dan Legault, was the chairman of Klinik Health Ventures. He remains on the board of Neupath. Mr. Legault, 63, a lawyer, listed Antibe in 2013 with a $2.28-million initial public offering at 55 cents. Antibe has traded mostly between 37 and 75 cents in the past year.
The remainder is available to Stockwatch subscribers.
© 2020 Canjex Publishing Ltd. All rights reserved.