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Shell Summary for Nov. 27, 2019

2019-11-27 21:54 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 2.08 points to close at 533.81 Wednesday. Paul Barbeau's fourth capital pool shell, NBS Capital Inc. (NBS: halted), plans to acquire a Brazilian audiobook company, Ubook Editora SA, for the shell's qualifying transaction. The shell will roll back 1 for 3, leaving it with 2,433,333 shares issued, then issue 49,943,800 shares to its target's shareholders.

Ubook was founded in Rio de Janeiro in 2014. It offers a subscription-based streaming service, similar to Netflix or Spotify, though not for movies or music. Instead, Ubook offers audiobooks, e-books and podcasts. It also offers digital print copies of magazines and audio recordings of voiceover actors reading magazine articles. Among the magazines in Ubook's catalogue are Harvard Business Review and the now-discontinued PlayStation: The Official Magazine (back issues). Ubook produces some of its audio products, including original content, in its own recording studios. For the rest of its audio and digital print products, it holds distribution rights. Ubook has 20,000 audiobooks in its catalogue, comprising 5,000 in Portuguese, 5,000 in Spanish and 10,000 in English. It also has more than 330,000 podcasts, newspaper article audio recordings and other products.

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