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by Stockwatch Business Reporter
The TSX Venture Exchange fell 13.71 points to 802.83 Tuesday. Jessica Zhang's first capital pool shell, CUP Capital Corp., has completed its qualifying transaction, which is the acquisition of German Battery & Lighting Technologies PLC. The shell, which had 1,734,650 issued shares, issued 103,254,459 shares to its target's shareholders. CUP Capital also sold a $3-million prospectus offering at 64 cents. Now, it has changed its name to GBLT Corp. (GBLT: $0.64). The resulting issuer has yet to trade.
German Battery & Lighting manufactures private-label batteries, chargers, mobile energy storage devices (such as the kind that you would bring on a camping trip), solar panels and lights. Its brands include Polaroid and AgfaPhoto. The company is not profitable. In the nine months ended Sept. 30, 2017, it lost 3.34 million euros on revenue of 13.12 million euros. In the full year 2016, it lost 4.15 million euros on revenue of 23.57 million euros.
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