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by Stockwatch Business Reporter
The TSX Venture Exchange tumbled 22.16 points to 679.83 Monday. Today marks the lowest the venture exchange has closed in the 21st century. The stock markets crashed six years ago and on Dec. 5, 2008, the TSX-V bottomed, closing at 684.31, with an intraday low of 678.62, which is slightly lower than today's intraday low of 678.64. Otherwise, the venture exchange last traded lower in December, 1999, when it was known as the Canadian Venture Exchange. The CDNX traded down to 616.19 in December, 1999, but then the tech boom arrived and the index rose.
Anton Konovalov, a young Russian shell packager who lives in Toronto, has filed a preliminary prospectus to list a new capital pool shell, Dominion General Investment Corp. Hampton Securities Ltd., a brokerage firm in Toronto, will handle the shell's initial public offering of anywhere between $500,000 and $4.75-million at a pricey $1 a share. Capital pool shells usually sell IPO shares at either 10 cents or 20 cents, but there are occassional times when IPO shares sell for up to $1. James Paterson's Decisive Dividend Corp. (DE), which recently reported a plan to buy a profitable stove and furnace company as its QT, is the most recent capital pool shell to list after selling IPO shares at $1. It listed in September, 2013.
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