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Shell Summary for Sept. 7, 2017

2017-09-07 20:44 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 774.05 Thursday. Marc Sontrop and Aaron Salz's capital pool shell, AIM1 Ventures Inc. (AIMI), began trading today. It reached an intraday high of 17.5 cents before closing at 16 cents on 236,650 shares. AIM1 sold a $427,650 initial public offering at 10 cents, through Haywood Securities Inc.

Mr. Sontrop is the president and chief compliance officer of Interward Asset Management Ltd., an investment firm in Toronto. Mr. Salz is a former analyst with Interward. He now runs a corporate finance advisory firm, Stoic Advisory Inc., which focuses on marijuana. Today, Stoic added a customer: Bruce Dawson-Scully's licensed pot producer, WeedMD Inc. (WMD: $0.74), which has hired Stoic as a consultant. AIM1 Ventures is the first public company directorship for either Mr. Sontrop or Mr. Salz.

Tony Ricci's halted capital pool shell, Shelby Ventures Inc. (SLY), plans to acquire Solution Auto Lease & Sales Ltd. for the shell's qualifying transaction. The shell will roll back 1 for 2.451, leaving it with 6,000,041 shares issued, then issue 52 million shares to its target's shareholders. Before the QT can close, the shell must sell a $5-million private placement at 25 cents (or higher -- the financing terms are not yet final).

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