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by Stockwatch Business Reporter
The TSX Venture Exchange closed up a fraction to 772.24 Friday, ending the week down 11.52 points. Dennis Nerland's Arkadia Capital Corp. (AKC: halted) has signed a definitive agreement with its qualifying transaction target, Trent Claughton's real estate investment company, Capexco Inc. Arkadia says the terms are different from those in the letter of intent, but investors never saw those. They have been waiting for Arkadia to release more information since announcing the LOI in December, 2015. Arkadia's investors have learned to be patient, having no choice. The stock halted last August pending an announcement, which arrived just now. The shell, which has 6.52 million shares issued, is planning to roll back 1 for 20 and then issue 27.3 million shares to the holders of Capexco. The real estate investment company has at least one investment. In March, San Diego media outlets reported that Capexco had acquired a parking lot with two historic homes for $9.2-million. After relocating the protected homes, Capexco plans to build a 32-storey mixed-use condominium.
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