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Shell Summary for Feb. 6, 2020

2020-02-06 20:49 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 1.64 points to 578.00 Thursday. Bill Ye's first capital pool shell, Hope Well Capital Corp. (HOPE: suspended), plans to acquire a Toronto tech start-up called Loc8 Corp. for the shell's qualifying transaction. The shell, which has 7,724,999 shares issued, will issue 82,925,000 shares to its target's shareholders.

Loc8 is working on an enterprise software product called Deep Spatial. This software analyzes location data and then makes recommendations to businesses based on its analysis of those data. The company provides an example: Deep Spatial can supposedly help a retailer identify the best locations for opening new stores; identify the right levels of inventory to order and when, depending on factors such as store location; and identify the most effective kinds of marketing campaigns in a given area. The company is billing Deep Spatial as an artificial-intelligence-powered product, an angle that will no doubt add to the product's promotability.

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