This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Stockwatch Business Reporter
The TSX Venture Exchange continued to plummet, losing 32.03 points to 811.68 Friday and ending the week down 79.12 points. A former Ron Schmeichel shell target now plans to go public through another shell. That target, HLS Therapeutics Inc., which holds Canadian and U.S. rights for a schizophrenia drug called Clozaril, previously intended to go public through Mr. Schmeichel's 18th capital pool shell, Mira VII Acquisition Corp. Mira VII would have rolled back a painful 1 for 94.7, leaving it with 131,995 shares issued, and then it would have issued 23,278,000 shares to the holders of HLS. In March, 2016, Mira VII and HLS announced that their deal was off. They did not provide a reason. In June, 2017, Mira VII closed its qualifying transaction by launching a Montreal food delivery company called Goodfood Market Corp. (FOOD: $2.97). The IPO shareholders of Mira VII, who paid 10 cents a share, were rolled back 1 for 22.2222 in connection with the Goodfood deal, so their break-even price is about $2.23. Goodfood traded mostly below this price in its first four months of trading, but the stock has since remained mostly above it, so any remaining IPO shareholders are doing all right.
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2018 Canjex Publishing Ltd. All rights reserved.
Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted.Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.