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Shell Summary for Jan. 21, 2020

2020-01-21 21:16 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 3.45 points to close at 582.46 Tuesday. Mitchell Smith's capital pool shell, Sceptre Ventures Inc. (SVP: suspended), plans to acquire a pink sheets listing called Izon Network Inc. (IZNN: $0.018 (U.S.)) for the shell's qualifying transaction. The shell will roll back 1 for 3, leaving it with 6,936,115 shares issued, then issue 74,049,090 shares to its target's shareholders. Izon, which has 246,830,284 shares issued, will roll back 1 for 50 before the merger. Its shareholders will receive 15 Sceptre postconsolidated shares in exchange for each Izon postconsolidated share.

Izon is a digital advertising firm. It mainly advertises in golf courses in the United States. Specifically, it installs tablets on golf carts and then displays ads on those tablets. Golf course operators can use Izon's tablets to keep track of golf carts, as the tablets are GPS (Global Positioning System) enabled. As for golfers, they can use the tablets to keep score, to look up course information (including their particular golf cart's distance from the next hole) and to order drinks from the golf course restaurant.

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