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Shell Summary for April 29, 2020

2020-04-29 20:49 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 6.47 points to 477.36 Wednesday. Eva Koci's first capital pool shell, Klinik Health Ventures Corp. (KHV: halted), has provided an update on its qualifying transaction, which is the acquisition of an Ontario health care provider, 2576560 Ontario Inc., doing business as NeuPath Health. Among the updates are a new director nominee and the name of an expected insider (shareholder) of the resulting issuer.

NeuPath Health is a Toronto company that operates two chains of chronic pain management clinics in Southern Ontario. One chain, called CPM or Centres for Pain Management, has nine clinics. The other, InMedic Creative Medicine, has three clinics. NeuPath counts 65 doctors in all 12 clinics combined. The clinics offer anesthetic treatments, rehabilitation therapy, medication, counselling, marijuana treatments and meditation. In the first nine months of 2019, NeuPath lost $1.47-million on revenue of $36.59-million. It ended that period with a working capital deficit of $6.01-million. (It has not yet disclosed information on long-term debt.) We should see its complete financials when the shell submits a QT filing statement.

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