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Shell Summary for June 6, 2018

2018-06-06 20:44 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 7.25 points to 775.10 Wednesday. Donald Wright and John O'Sullivan have listed their second capital pool shell, Cinaport Acquisition Corp. II (CPQ: $0.10), with a $540,000 initial public offering at 10 cents through Echelon Wealth Partners Inc. The stock has yet to trade. Mr. Wright, the shell's chairman, is also the chairman of GMP Capital Inc. (GMP: $2.90) and Richards Packaging Income Fund (RPI: $36.31). Previously, he was the chairman and chief executive officer of TD Securities Inc. until he retired in 2002. Earlier, from 1990 to 1994, he was the president of Merrill Lynch Canada Inc. His shell-making partner, Mr. O'Sullivan, co-founded a brokerage firm, Newcrest Capital Inc., which was acquired by TD Bank Group for $244-million in cash and shares in 2000. Mr. O'Sullivan then joined TD Bank and later became the head of proprietary trading at TD Securities. He retired in 2008. Mr. O'Sullivan and Mr. Wright each hold three million escrowed shares of Cinaport II.

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