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Shell Summary for Nov. 28, 2016

2016-11-28 20:37 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 2.23 points to 736.81 Monday. Michael Thomson has filed a preliminary prospectus to list his ninth capital pool shell, Soleil Capital Corp. The shell is selling a $500,000 to $1-million initial public offering of shares at 10 cents. Its IPO agent is Industrial Alliance Securities Inc.

Soleil Capital has 2.4 million escrowed shares, which it sold at five cents earlier this month. Mr. Thomson holds 800,000 of these escrowed shares through his corporate finance consultancy, Independent Capital Partners Inc. Mr. Thomson, 59, is a securities lawyer in Calgary. In the early 1990s, he had an 18-month stint as the legal counsel for corporate finance and listings at the Vancouver Stock Exchange, where, presumably, he learned how wonderfully profitable penny stocks could be and decided to make a career out of them. At Soleil Capital, he is the promoter, the chief financial officer and a director.

Mr. Thomson listed his first shell, Adventure Capital Corp., in March, 1994, on the Alberta Stock Exchange. Adventure sold a $200,000 IPO at 10 cents. Seven months later, it launched Healthcare Capital Corp., the owner of hearing and speech clinics in British Columbia. In its first three years, Healthcare Capital traded between 11 cents and $3.95. This gave Adventure Capital's IPO shareholders plenty of opportunities to get out of their investment with a profit, so we consider Mr. Thomson's first shell to have been a success.

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The foregoing Shell Summary is an excellent report. As the saying goes, "the devil is in the details". Very good summary.......seems like the writer may have "more than passing" interest and info on company principals from Nova Scotia as has been shown in previous summaries.....which I enjoy very much while living here in "Bluenose Country". Thanks so much....Don Flynn, Truro, N.S.

Posted by Donald Flynn at 2016-11-29 00:03


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