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by Stockwatch Business Reporter
The TSX Venture Exchange
closed up 1.51 points to 531.73 Tuesday. There are no new qualifying transactions or major updates (such as QT filing statements) to discuss, but today was not a slow news day in the shell world. There are 187 listed capital pool shells, of which 72 are halted pending their QTs. The remaining 115 shells do not have deals in progress.
Gordon Wiebe's first capital pool shell, Sun Residential Real Estate Investment Trust (SRES: halted), has provided a financing update and has released financial information on its QT target. For its QT, the shell is acquiring a 51-per-cent interest in a 288-unit residential property in Tallahassee, Fla., for $11-million (U.S.) cash. In the nine months to Sept. 30, 2019, the property generated a $3.36-million (U.S.) profit on revenue of $3.36-million (U.S.). The property's income statement for that period includes a $2.61-million (U.S.) adjustment on the fair value of the property. At the end of the period, the property was valued at $55.55-million (U.S.) worth of assets minus $33.19-million (U.S.) worth of liabilities.
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