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Shell Summary for Aug. 17, 2020

2020-08-17 20:50 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 13.22 points to 750.87 Monday. Theodore (Ted) Manziaris and Catherine Wilson's first capital pool shell, Trillium Acquisition Corp. (TCK: halted), plans to acquire a 64-acre commercial property in Nanaimo for the shell's qualifying transaction. The vendor is 104 Nanaimo Holdings Ltd., which is managed by Dennis Drummond and Mark Consiglio. The shell will pay $30-million cash, issue up to 700 million units and assume $90-million worth of debt. It does not yet say how it plans to raise the $30-million. On March 31, it had working capital of $482,700. In May, it raised $717,140 in its initial public offering at 10 cents.

The target property includes a 650,000-square-foot shopping centre with tenants such as Canadian Tire Corp. (CTC: $213.46), Lowe's Companies Inc. (LOW: $158.41 (U.S.)), Cineplex Inc. (CGX: $8.19), Dollarama Inc. (DOL: $49.53), London Drugs, Mark's Work Warehouse and Fairway Market. In 2018, the property generated a $2.77-million profit on revenue of $9.88-million. Then in 2019, it generated a $2.18-million profit on revenue of $10.08-million.

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