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Shell Summary for July 20, 2021

2021-07-20 20:09 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 18.95 points to 889.86 Tuesday, recovering some of the 37.40 points that it lost in yesterday's correction. The index, which spent most of 2019 between 570 and 630, dropped to 330 in March, 2020, as the markets reacted to COVID-19 and then proceeded to climb hotly past 1,000 in February, 2021. In the shell world, Yaniv Bresler's first shell, Cross Border Capital I Inc. (CBX: halted), plans to acquire an Israeli on-line marketing company, Message Notify Ltd., doing business as SuperBuzz. The terms for this proposed qualifying transaction are not yet available, but the shell intends to roll back its five million shares currently issued.

Message Notify was formed in 2018. It has a platform that enables website operators to send automated and personalized push notifications to their website visitors. Push notifications include the messages that pop up onscreen while you are browsing websites on your computer. They also include the messages that appear on your mobile phone after you use the phone to visit particular websites. Unfortunately for Message Notify, many users treat the messages as an annoyance to be turned off as quickly as possible. According to Message Notify's website, its platform sends 15 million messages daily. We should find out whether the company is profitable when the shell submits a QT filing statement. In connection with Message Notify's going public, it plans to raise $2-million, no details yet.

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