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Shell Summary for May 6, 2021

2021-05-06 20:32 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange slipped 1.92 points to 943.77 Thursday. Two shells have provided qualifying transaction details, including their targets' partial financials and the names of director nominees for their resulting issuers. First is Ian Slater's Abigail Capital Corp. (ACC: halted), which is acquiring a Toronto e-sports (competitive video gaming) company, OverActive Media Corp. The shell will roll back 1 for 9, leaving it with 1,333,333 shares issued, then issue 78,902,947 shares to its target's shareholders. Among the shareholders are the subscribers to a $39.89-million private placement at $2.25, which OverActive closed three weeks ago.

OverActive owns professional e-sports teams such as Toronto Defiant, Toronto Ultra and MAD Lions. Toronto Defiant competes in the Overwatch League, playing the Overwatch video game. Toronto Ultra competes in the Call of Duty League, playing the Call of Duty video game (or perhaps one of its many variants). The MAD Lions team is based in Madrid and competes in several tournaments for video games including Counter Strike: Global Offensive. In the current Call of Duty League season, the overall champion will win $1.2-million (U.S.). Toronto Ultra has already secured a playoff spot, but the playoffs have not yet begun. The league is organized by Activision Publishing Inc., the publisher of the Call of Duty game.

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