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Shell Summary for April 27, 2017

2017-04-27 20:58 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 6.22 points to 800.45 Thursday. Sheldon Pollack has filed a preliminary prospectus to list his first capital pool shell, the awkwardly named OV2 CPC 1 Inc. The shell is selling a $500,000 initial public offering of five million shares at 10 cents, through Canaccord Genuity Corp.

OV2 CPC has two million escrowed shares, which it sold at five cents in January, 2017. Each of the shell's four directors holds 500,000 of the escrowed shares. The shell's founder, Mr. Pollack, 55, is the chairman of OV2 Securities Inc., an M&A and capital advisory firm in Toronto. Since January, 2013, he has also been the chairman of Tal Hayek's digital advertising company, AcuityAds Holdings Inc. (AT: $3.95). Mr. Hayek took AcuityAds public in July, 2014, through one-time shell-maker Peter Schriber's capital pool shell, Wildlaw Capital CPC 2 Inc. (There has been no Wildlaw Capital CPC Inc. or Wildlaw Capital CPC 1 Inc.)

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