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Shell Summary for July 2, 2020

2020-07-02 20:58 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 7.38 points to close at 627.51 Thursday. Luke Montaine's capital pool shell, Ord Mountain Resources Corp. (OMR: halted), plans to acquire a start-up called Bloom Supply Ltd. for the shell's qualifying transaction. The shell, which has 4,702,000 shares issued, will issue 11.6 million shares to its target's shareholders.

Bloom Supply is a Canadian firm that plans to focus on the distribution of "functional mushrooms" and related products. Functional mushrooms are not the same as culinary mushrooms (such as button mushrooms and portobello mushrooms) or psilocybin mushrooms (which are the psychedelic or "magic" sort of mushrooms). Instead, functional mushrooms are called such because they supposedly help consumers function better by improving their cognitive performance and creativity, providing an energy boost, lowering stress levels, strengthening the immune system, improving digestion and blood flow, and enhancing the natural glow of the skin. Varieties of functional mushrooms include shiitake, reishi, chaga and lion's mane. Functional mushrooms are usually bitter tasting. They sometimes come in the form of powder, capsules or tinctures. In 2018, functional mushrooms started becoming trendy in North America, though not quite as trendy as kale, avocado toast or Beyond Meat burgers.

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