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Shell Summary for Sept. 21, 2018

2018-09-21 21:09 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 719.95 Friday, but it ended the week up 4.79 points. Three new capital pool shells have listed: Rob Bakshi's Crystal Bridge Enterprises Inc. (CRYS: $0.11), Eva Nakano's Kismet Resources Corp. (KSMT: $0.12) and Ronnie Jaegermann's Cann-is Capital Corp. (NIS). There are now 142 listed capital pool shells, nearly half of which are halted pending their potential qualifying transactions. Most of the rest are tradable and available for deals. (A few are suspended for failing to keep up with their filings or other exchange requirements.)

Haywood Securities Inc. sold the initial public offerings for Crystal Bridge, Kismet and Cann-is. First, Mr. Bakshi's Crystal Bridge completed a $200,000 IPO at 10 cents. It also completed a $335,000 private placement at 10 cents. Today, Crystal Bridge traded 5,000 shares at 11 cents.

Mr. Bakshi lives in Surrey, B.C., and has been involved with tech and real estate companies. In 1986, he co-founded a video surveillance company, Silent Witness Enterprises Ltd., which peaked at $14.85 on the Toronto Stock Exchange in 1999. Silent Witness was acquired in 2004 by Honeywell International Inc. (HON: $167.34 (U.S.)). These days, Mr. Bakshi is the executive chairman of Resaas Services Inc. (RSS: $0.32), which sells software for real estate sales management. Crystal Bridge Enterprises is his first capital pool shell. He plans to seek a tech deal for its QT. Mr. Bakshi holds 500,000 of the shell's 3.16 million escrow shares. Among the 12 other escrow shareholders is Pardeep Sangha, a tech analyst with Haywood, holding 300,000 escrow shares.

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