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Shell Summary for March 5, 2020

2020-03-05 20:24 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 4.47 points to close at 521.27 Thursday. Ravinder Mlait's first capital pool shell, Brockton Ventures Inc. (BROC: halted), has submitted a filing statement for its qualifying transaction, which is the acquisition of Myesports Ventures Ltd. The shell, which has 4.55 million shares issued, will issue 47,221,722 shares to its target's shareholders.

Myesports is a Richmond, B.C., company that was formed in July, 2018. Its ambition is to become an organizer of e-sports (competitive video gaming) events in dedicated arenas. In the fourth quarter of 2018, it hosted tournaments for the following popular video games: League of Legends, Fortnite and Counter-Strike: Global Offensive. The events were not yet held in a dedicated e-sports arena but in venues such as the River Rock Casino Resort. The company's Fortnite tournament attracted 120 competitors. Myesports boasts that its Counter-Strike: Global Offensive tournament was "sold out" with 12 competing teams and a waiting list of six more. Encouraged, the company soon began upgrading a stadium in Richmond, putting in Internet and power systems. In June, 2019, it opened The Gaming Stadium, its first e-sports arena. The stadium covers 7,000 square feet, including 1,500 square feet of retail space. There are 60 computers, of which 12 are on a stage, with big screens behind them to show what's on their monitors. Spectators can watch the video gamers playing onstage, from bleachers with a 150-seat capacity.

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