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by Stockwatch Business Reporter
The TSX Venture Exchange
gained 4.63 points to close at 581.69 Wednesday. Arif Shivji's second capital pool shell,
Hoist Capital Corp. (HTE: halted), has lost its qualifying transaction. It had arranged to acquire a cryptocurrency seller in Melbourne called BTC Corporation Holdings Pty. Ltd. The shell had intended to roll back 1 for 6.89655, leaving it with 1,624,000 shares issued, then it would have issued 29,556,288 shares to its target's shareholders.
BTC Corporation was founded in 2013. It sells bitcoins and Ethereum tokens at 6,000 locations in Australia, as well as on-line to buyers in Canada and the United Kingdom. It plans to sell bitcoins and Ethereum tokens in more countries, including Ireland and Mexico. Under the now-cancelled deal, BTC was going to raise between $3-million and $8-million to finance its international operations.
The shell does not say why its deal with BTC fell through. Last month, however, BTC's founder and chairman, Domenic Carosa, talked up his company's plans, and those plans did not mention the shell. First, Mr. Carosa boasted that BTC had raised $2-million (U.S.). Second, he shared that BTC was planning to list on the Toronto Stock Exchange. His company has not yet submitted any SEDAR filings, whether as BTC or under the company's other name, Banxa.
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