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Shell Summary for Nov. 14, 2019

2019-11-14 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 3.48 points to close at 527.15 Thursday. Moe Dilon's capital pool shell, Wangton Capital Corp. (WT: halted), plans to acquire Cloud 9 Switzerland LLC and three unnamed related companies for the shell's qualifying transaction. The acquisition terms are not yet available, but the shell and its main target plan to sell a $4-million private placement of units in connection with the QT. There is no offering price yet.

When Cloud 9 describes itself, it comes off as a very busy company. It talks about "products in the food, beverage/spirits, pharmaceutical and cosmetic sectors. The products include the first Swiss-regulatory-compliant hemp Swiss chocolate and innovative cannabinoid-based treatments for glaucoma and asthma, and an innovative CBD [cannabidiol] nanoparticle transdermal skin patch." In reality, Cloud 9 has one product so far, a hemp-infused chocolate bar, and it is not yet on sale. Some of the other products in its self-description are manufactured by, or under development by, other companies.

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