13:10:04 EDT Thu 22 Oct 2020
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Shell Summary for Sept. 3, 2020

2020-09-03 20:30 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange dropped 19.29 points to 730.35 Thursday. Three capital pool shells have called off their respective qualifying transactions in as many days. First, there is Doron Cohen's second capital pool shell, A-Labs Capital II Corp. (ALAB: halted), which cancelled its acquisition of S.R.P. Plus Holdings Ltd., the operator of four or five skin care clinics in Israel. S.R.P. Plus had hoped to turn those clinics into pain management clinics offering cannabis treatments. The shell and S.R.P. aimed to raise between $8-million (U.S.) and $10-million (U.S.), but now their deal is off even before they announced the financing terms.

Mr. Cohen lives in Israel and runs a corporate finance advisory firm called A-Labs Finance and Advisory Ltd. He previously worked at several mobile and telecommunications software companies. His first capital pool shell, A-Labs Capital I Corp. (ALBS), is halted pending an Australian cryptocurrency QT. He listed his follow-up shell, A-Labs Capital II, in March, 2019, with a $200,000 initial public offering at 10 cents. With no QT in progress any longer, the shell will resume trading tomorrow.

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