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Shell Summary for July 30, 2020

2020-07-30 20:50 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 5.40 points to 705.74 Thursday. Vancouver brothers Darren and Jeff Tindale's first capital pool shell, Whatcom Capital Corp. (WHAT: halted), plans to acquire Nexe Innovations Inc. for the shell's qualifying transaction. The QT terms are not yet available, but the shell plans to roll back 1 for 2.5, leaving it with four million shares issued.

Nexe, formerly called G-Pak Technology Inc., is a Vancouver company that is working on a plant-based, compostable version of single-use coffee pods, which are meant for single-serve coffee machines such as those made by Keurig and Nespresso. Existing coffee pods are typically made of plastic, though there are a handful of companies producing compostable coffee pods. Note that not all coffee pods labelled "compostable" are actually so. Compostability depends on a material's compatibility with the garbage-handling system at each municipality. So far, neither Vancouver nor Toronto accepts coffee pods as compost material, even if the pods are lab certified as compostable. Both British Columbia and Ontario are still working this out with garbage contractors and in legislation.

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