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by Stockwatch Business Reporter
The TSX Venture Exchange gained 8.26 points to close at 725.71 Wednesday. Vancouver brothers Darren and Jeff Tindale's first capital pool shell, Whatcom Capital Corp. (WHAT: halted), has disclosed some additional details of its qualifying transaction. Among the new disclosures are the QT terms, the concurrent financing terms and partial financials of its QT target. For its QT, the shell is acquiring Nexe Innovations Inc., a Vancouver consumer packaged goods start-up. The shell will roll back 1 for 2.5, leaving it with four million shares issued, then issue 43,387,336 shares to its target's shareholders.
Nexe is working on a plant-based, compostable version of coffee pods, which are meant to be used in single-serve coffee machines such as those produced by Keurig and Nespresso. Typical coffee pods are made of plastic or aluminum, but there are several companies that are making compostable coffee pods, including McDonald's Corp. (MCD: $206.02 (U.S.)). The thing to note here is 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 compostable coffee pods as compost material. One maker of compostable coffee pods estimates that it would take 84 days for its pods to break down completely in a municipal compost site; according to Toronto's Solid Waste Management Services in 2016, that was not fast enough. Both Ontario and British Columbia are still working out, with their respective garbage contractors and in legislation, how to accommodate compostable coffee pods.
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