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by Stockwatch Business Reporter
The TSX Venture Exchange gained 1.87 points to close at 594.69 Monday. Derek Lew's first capital pool shell, Caprice Business Development Canada Inc. (CAPB: halted), plans to acquire 1182533 B.C. Ltd. for the shell's qualifying transaction. This is a tech deal involving the development of games for cellphones. The shell, which has 5.5 million shares issued, will issue 184,637,500 shares to its target's shareholders. In connection with the game developer's going public, it plans to raise at least $1-million by private placement. Financing terms are not yet available.
The numbered company says it is doing business as Leaf Digital Studios, but such a business appears nowhere on-line. Most likely, Leaf Digital is itself a shell that is in the process of acquiring the ultimate QT target business, an unnamed Vancouver mobile-game development firm. There are more than 15 mobile-game developers in and around Vancouver.
According to Caprice Business, Leaf Digital has been in operation for eight years. According to the B.C. Corporate Registry, however, Leaf Digital was incorporated in October, 2018. It must be the unnamed ultimate QT target that is eight years old. This unnamed target boasts of having had its mobile games installed by more than 30 million users. Its games are free to play, but users have the option of paying to access extra features while playing. Caprice Business adds that the game developer hosts events to boost its revenue, which presumably means that it charges entry fees to those who attend its events.
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