This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange lost a fraction to 592.70 Wednesday. John MacPhail and Raphael Danon have filed a preliminary prospectus to list their first capital pool shell, Woodbridge Ventures Inc. The shell plans to sell a $450,000 to $550,000 initial public offering at 10 cents through PI Financial Corp.

If this shell seems familiar to readers, that might be because Woodbridge first intended to list in August, 2017. At the time, it was planning to sell a $350,000 to $500,000 IPO at 10 cents through Chippingham Financial Group Ltd., of which Mr. MacPhail had spent a few months as an executive director. Eventually, however, Woodbridge abandoned its IPO plans; it filed only a preliminary prospectus and not a final prospectus for its IPO.

Mr. MacPhail, 56, son of the late Howe Street broker Gus MacPhail, worked at Yorkton Securities Inc. from 1992 to 2001. John MacPhail later worked at Union Securities Ltd. and was its chief executive officer from 2008 to 2012. He left shortly before Union was acquired by PI Financial. He moved on to become the president of Global Securities Corp., holding this position from 2012 to 2016 and leaving shortly before Global was acquired by PI Financial.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS