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Shell Summary for Feb. 13, 2020

2020-02-13 20:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 571.00 Thursday. David Antony's first capital pool shell, Rider Investment Capital Corp. (RDR), requested a halt this morning, pending news, presumably about a potential qualifying transaction, but the news had not yet arrived by market close.

Rider listed in May, 2018, with a $250,000 initial public offering at 10 cents. It has made one QT attempt so far, the acquisition of U.S. Cryotherapy Holdings Ltd., which operates 21 cryotherapy centres in the United States. Cryotherapy is the use of extreme cold in a health care procedure, for example, to treat inflammation or chronic pain by freezing muscles or joints. As well as this localized treatment, U.S. Cryotherapy offers whole-body cryotherapy, in which a customer goes into a chamber to get "cold shock" for two to 3.5 minutes. Although there are many U.S. companies offering whole-body cryotherapy, the U.S. Food and Drug Administration has approved none of their procedures. The FDA has, however, approved at least one localized cryotherapy device; it is for treating excessive menstrual bleeding.

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