20:56:12 EDT Wed 05 Aug 2020
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Shell Summary for July 31, 2020

2020-07-31 21:12 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 15.50 points to 721.24 Friday, ending the month up 101.11 points. Michael Frank's capital pool shell, Cluny Capital Corp. (CLN: halted), plans to acquire Teonan Biomedical Inc. for the shell's qualifying transaction. The terms are not yet available.

Teonan is a Montreal firm that sells healthy drinks on-line. Specifically, it sells coffee (including flavoured latte) and hot chocolate. The drinks are organic, vegan, gluten free, dairy free and GMO (genetically modified organism) free. They also have functional mushrooms in them. As discussed in a few shell summaries in recent months, functional mushrooms are different from culinary mushrooms (like portobello) or psilocybin mushrooms (which make you high). Instead, functional mushrooms supposedly help consumers function better by strengthening the immune system, improving cognitive performance, boosting energy and reducing stress. Examples of functional mushrooms are shiitake, reishi, chaga and lion's mane. Teonan also plans to eventually sell cannabidiol drinks under the brand name Velada.

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