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Shell Summary for July 28, 2020

2020-07-28 21:03 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.32 points to close at 707.79 Tuesday. Johannes Kingma's fourth capital pool shell, Quantum Blockchain Technologies Ltd. (QBC: halted), plans to acquire a B.C. medical device start-up called Ocumetics Technology Corp. for the shell's qualifying transaction. The shell, which has 5.5 million shares issued, will issue 78.15 million shares to its target's shareholders.

Ocumetics Technology is working on a product called the Bionic Lens, which will supposedly eliminate the need for contact lenses, eyeglasses or laser surgery. The company claims that the product will grant a patient with a quality of vision that is three times better than the normal 20/20. The Bionic Lens is meant to be injected into a patient's eye in a painless, eight-minute procedure that requires no anesthesia. Ocumetics Technology began touting the Bionic Lens in 2015. The company and its product were featured in articles in the Vancouver Sun and other newspapers, as well as on Breakfast Television Vancouver. At the time, Ocumetics had not yet begun clinical trials, but it optimistically estimated that it would complete clinical trials in 2017 and then launch the Bionic Lens commercially in Canada in the same year. Now, the firm still has not begun clinical trials.

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correction David pinkman is a former securities lawyer.


Posted by johannes kingma at 2020-07-29 12:31

correction David pinkman is a former securities lawyer.


Posted by johannes kingma at 2020-07-29 12:32