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Shell Summary for June 8, 2020

2020-06-08 20:23 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 8.21 points to 565.12 Monday. Damian Lopez's first capital pool shell, Wolf Acquisition Corp. (WOLF: halted), has arranged a joint qualifying transaction with Joel Freudman's first capital pool shell, Holly Street Capital Ltd. (HSC: halted). Mr. Lopez sits on the board of Mr. Freudman's Holly Street. The two shells are planning a three-way merger with Jasper Interactive Studios Inc., a software developer in Toronto. Wolf Acquisition, which has 5.5 million shares issued, will issue 5,535,000 shares to Holly Street's shareholders and an as-yet-unstated number of shares to Jasper's shareholders.

Jasper has a PIM (product information management) software, that is, a software program that enables on-line sellers to manage their product details on-line. Jasper says the PIM software also helps with on-line merchandising. Customers use Jasper's PIM software to help them manage their on-line stores, which they operate through e-commerce platforms such as those provided by Shopify Inc. (SHOP: $975.75), Adobe Inc. (ADBE: $397.78 (U.S.)) and BigCommerce Inc. To be clear, Jasper's customers do not simply sell their products at existing on-line marketplaces such as Amazon. Rather, they build their own sales websites using Shopify's platform (which is also called Shopify), Adobe's platform (which is called Magento) and BigCommerce's platform (which is also called BigCommerce). Jasper's PIM software supposedly helps them as they use these platforms.

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