18:19:17 EDT Thu 06 Aug 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Shell Summary for July 17, 2020

2020-07-17 20:42 ET - Market Summary

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 climbed 13.37 points to 674.95 Friday, but it ended the week down 9.76 points. Sheldon Pollack and Adam Adamou's first capital pool shell, OV2 Investment 1 Inc. (OVO: suspended), plans to acquire a communications infrastructure firm in Florida called Eastower Group Inc. for the shell's qualifying transaction. The shell will roll back 1 for 1.25421875, leaving it with eight million shares issued, then issue 23,893,674 shares to its target's shareholders and convertible debt holders.

Eastower Group, which operates through its wholly owned subsidiary called Eastower Communications Inc., was formed in Boca Raton in 2014. The company builds, installs, upgrades, maintains and decommissions communication towers and related systems to telecom providers, broadcast and cable television companies, radio operators, other corporate customers, and government agencies. It also installs antennas, as well as fibre optic cables in trenches. Eastower operates mostly in the Southeastern United States, with plans to expand into the Southwestern U.S. In connection with its going public, Eastower must sell a $3-million private placement. It has yet to set the offering price. The resulting issuer will use the proceeds to finance the company's expansion plans and for working capital.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2020 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.