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Shell Summary for April 29, 2021

2021-04-29 20:59 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 5.69 points to 945.56 Thursday. Shareholders of James Cassina's Good2Go Corp. (GOTO: halted) have approved the shell's proposed rollback and name change in connection with its qualifying transaction. The QT itself does not require their approval, because it is an arm's-length deal. Good2Go is acquiring a data analytics software company, NowVertical Group Inc. The shell will roll back 1 for 4.5, leaving it with 1,202,593 shares issued, then issue 27,165,497 shares to its target's shareholders.

NowVertical offers data management and analytics software to automotive businesses and government agencies. It has yet to release its financials. Earlier this month, it raised $8.39-million at $1.

On closing of the QT, the resulting issuer will assume the name of NowVertical and will have five directors: Daren Trousdell, John Adamovich, Darrell MacMullin, Scott Nirenberski and Elaine Kunda. Mr. Trousdell, 41, lives near West Palm Beach and is the chief executive officer of NowVertical. From 2001 to 2010, he ran a digital marketing agency called Mindblossom. Then from 2011 to 2016, he managed OneUp Games LLC, a sports website operator. OneUp gained popularity at first, but it later piled up debts and failed to pay its employees, contractors and others, despite raising $25-million over five years. It faced several lawsuits, including one from the Major League Baseball Players Association over $225,000 in unpaid rights fees. The company is now defunct. In 2018, Mr. Trousdell co-founded Clip Money Inc., which enables customers to make cash deposits into their bank accounts, not at their banks but at retail stores.

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