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Shell Summary for Jan. 27, 2020

2020-01-27 20:35 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 8.00 points to 573.76 Monday. Andre Bergeron's second capital pool shell, Woden Venture Capital Corp. (WOD: halted), plans to acquire a social media marketing firm called Geekco Technologies Inc. for the shell's qualifying transaction. The shell will roll back 1 for 4, leaving it with 2.3 million shares issued, then issue 26,125,000 shares to its target's shareholders.

Geekco was founded in 2015 in Montreal. It has a free mobile app called FlipNpik, which enables users to leave positive reviews of local businesses, such as restaurants, retail stores, small entertainment venues and small hotels. It touts the service as one in which users receive rewards for adding local businesses to FlipNpik's database and for leaving favourable reviews (no word on whether users are allowed to leave negative reviews). Geekco notes that user rewards come in the form of Flip Social points. These points can be used to access special offers from participating local businesses, as well as to play games within the FlipNpik app.

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