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Shell Summary for Aug. 17, 2018

2018-08-17 21:01 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 4.84 points to 678.01 Friday, but it ended the week down 15.74 points. Arturo Bonillas has listed his first capital pool shell, Magna Gold Corp. (MGR: $0.10), with a $200,000 initial public offering at 10 cents. Its IPO agent was M Partners Inc. Magna's stock has yet to trade.

So far this year, 50 capital pool shells have listed, including Magna. Of those 50 shells, 24 are from first-time shell-makers such as Mr. Bonillas. The most prolific shell-makers who have listed shells this year are: David Danziger with his eighth shell, Aumento Capital VII Corp. (AUOC: $0.55), which sold a 50-cent IPO in March; Ron Schmeichel with his 20th shell, Mira X Acquisition Corp. (MIRA: $0.30), which sold a 10-cent IPO in March; and Brian Bayley and Murray Sinclair with their 26th shell, Quendale Capital Corp. (QOC: $0.26), which sold a 15-cent IPO in June. These three shells have not yet announced their qualifying transaction plans. In 2017, fewer shells listed. By this time last year, 16 capital pool shells had listed, of which 10 were from first-time shell-makers.

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