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Shell Summary for July 9, 2020

2020-07-09 20:29 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 7.16 points to 671.96 Thursday. Two capital pool shells have filed information circulars for their respective shareholders meetings. First, there is Benoit Chotard's second capital pool shell, Orletto Capital II Inc. (OLT: halted), which will hold its shareholders meeting on-line on July 23. Then there is Peter Rona's first capital pool shell, Bold Capital Enterprises Ltd. (BOLD: halted), which will hold its shareholders meeting on-line on July 24. Both of these shells are working on their respective qualifying transactions, but neither shell has released the terms of its QT. Each shell's circular, however, discloses a potential rollback in connection with that shell's QT.

Orletto Capital II is acquiring MiMedia Inc., a Brooklyn firm that offers a cloud storage service for photos, videos, songs and other files. Users may store up to 10 gigabytes worth of files for free and then access their files on any Internet-connected device. Ten gigabytes are enough to store 2,500 photos, 2,000 songs or 10,000 documents. Beyond that, MiMedia charges subscription fees for greater storage space. The cheapest subscription plan is for 500 GB at either $8 (U.S.) a month or $85 (U.S.) a year. This storage space is enough for 125,000 photos, 100,000 songs or 500,000 documents. The most expensive subscription plan is for two terabytes at either $16 (U.S.) a month or $160 (U.S.) a year. This space is enough for 500,000 photos, 400,000 songs or two million documents.

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