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Shell Summary for April 9, 2020

2020-04-09 20:34 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 13.08 points to 421.97 Thursday, ending the shortened trading week up 38.03 points. Geoff Balderson's sixth capital pool shell, Dynamo Capital Corp. (DDD: halted), plans to acquire Linear Park Marketing Inc. and, ultimately, a pink sheets company with a regulatory history, for the shell's qualifying transaction. The shell, which has 4.5 million shares issued, will issue 100 million shares to Linear Park's shareholders.

Linear Park was formed in June, 2019, and has no business yet. It hopes to become a holding firm for hemp and CBD (cannabidiol) companies. It is working on its first acquisition, that of Upper Street Marketing Inc. (UPPR: $0.11 (U.S.)), which in turn is acquiring an 80-per-cent interest in a private company called PrimaPharma Inc. Linear Park, Upper Street and PrimaPharma are all U.S. entities. As a condition for closing the shell's QT with Linear Park, the acquisitions of Upper Street and the PrimaPharma interest must close as well. (Terms of these two acquisitions are not yet available.) In other words, the shell is ultimately acquiring Upper Street and the PrimaPharma interest.

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