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Shell Summary for Aug. 18, 2020

2020-08-18 20:29 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained a fraction to close at 751.00 Tuesday. Bryant Pike's first capital pool shell, Brachium Capital Corp. (BRAC: halted), plans to acquire WeCommerce Holdings Ltd. for the shell's qualifying transaction. The terms are not yet available, but the shell intends to roll back its 7,923,500 shares issued.

WeCommerce was formed in November, 2019. It acquires e-commerce businesses, primarily Shopify-related businesses. So far, its portfolio comprises six companies including Out of the Sandbox Inc., Foursixty Inc. and Yopify. Out of the Sandbox sells Shopify webpage design templates. Foursixty enables purchasing on Instagram. Yopify, like a few other firms in WeCommerce's portfolio, sells Shopify apps. For example, there is one app for customizing the "thank you" page that shows up after a customer buys something. Another app makes sure that the "buy" button is always visible, even when a Shopify user is scrolling up or down on a cellphone with a small screen. There are apps that manage pricing, and there are apps that focus on marketing. We should find out whether WeCommerce is profitable when the shell submits its QT filing statement. In connection with its going public, WeCommerce aims to raise at least $10-million. Financing details are not yet available.

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