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Shell Summary for July 16, 2018

2018-07-16 20:15 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 9.61 points to 715.63 Monday. Damian Lopez has filed a preliminary prospectus to list his first capital pool shell, Wolf Acquisition Corp. It plans to sell a $300,000 initial public offering at 10 cents through Richardson GMP Ltd.

Wolf Acquisition sold 2.5 million escrow shares at five cents last month. Mr. Lopez, 35, bought 400,000 of the escrow shares. He is a lawyer in Toronto, formerly with Stikeman Elliott LLP (from 2011 to 2015). Since 2015, he has been a legal consultant to Stan Bharti's Forbes & Manhattan Group. Mr. Lopez is the president and chief executive officer of Mr. Bharti's NEX shell, Valencia Ventures Inc. (VVI), which is halted pending a fertilizer-cryptocurrency deal. (We will return to Valencia momentarily.) Mr. Lopez is also the corporate secretary of seven public companies, including AnalytixInsight Inc. (ALY: $0.36), a financial data analytics company that is an investment of Forbes & Manhattan.

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