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Shell Summary for April 17, 2020

2020-04-17 19:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 2.53 points to 444.87 Friday, but it ended the week up 22.90 points. Dean Parmar's first capital pool shell, Canna 8 Investment Trust (RCR: halted), plans to acquire Real Industrial Investment Trust for the shell's qualifying transaction. The QT terms are not yet available, but the shell may roll back its 12.12 million shares issued.

Real Industrial is acquiring its first property, a commercial property in Kirkland, Ont., with an estimated value of $8.3-million. There is a tenant on the property with a lease expiring in 2029. Real Industrial has yet to provide other details on the property. (These details will undoubtedly be of some interest to shareholders -- a commercial property could be many things, from a shopping mall to a warehouse.) Before the QT can close, this property acquisition must close. As well, Real Industrial must raise at least $5-million by private placement (no offering price yet). It will use the proceeds for its Kirkland property acquisition.

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