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Shell Summary for Dec. 20, 2019

2019-12-20 21:28 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 4.20 points to close at 548.84 Friday, ending the week up 8.31 points. Two capital pool shells have closed their qualifying transactions, and both of their resulting issuers will begin trading on Monday. First, there is Emprise Capital Corp.'s second capital pool shell, ECC Ventures 1 Corp. (EONE: halted), which closed its acquisition of an Israeli robotics firm called A2Z Advanced Solutions Ltd. The shell rolled back 1 for 1.4, leaving it with 4,035,714 shares issued, then it issued 41,918,124 shares to its target's shareholders. In connection with this deal, the shell also sold a $500,000 private placement at 50 cents. Its resulting issuer will trade as A2Z Technologies Canada Corp. (AZ).

A2Z makes and sells remote-controlled robots and unmanned vehicles, mostly to military customers such as the Israel Defence Forces. Its robots can defuse bombs and extinguish fires. The company was profitable in 2018, earning $41,000 (U.S.) on revenue of $1.32-million (U.S.). In the first half of 2019, however, it lost $156,000 (U.S.) on revenue of $794,000 (U.S.). A2Z is now working on civilian products, including a car cover sheet that can be stored in the car's bumper (which probably means that a customer will have to change his car's bumpers, yes, both of them, unless the owner wants mismatching bumpers).

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