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Shell Summary for March 27, 2019

2019-03-27 20:37 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 8.32 points to 626.30 Wednesday. Sean Mager and John Williamson have filed a preliminary prospectus to list their first capital pool shell, Cortus Metals Inc., with a $220,000 initial public offering at 10 cents. The IPO agent is Haywood Securities Inc.

Mr. Mager, 52, is a mining consultant in Edmonton. In the late 1990s and early 2000s, he worked with logistics and mining companies in the North, as well as an aboriginal investment firm and the government of the Northwest Territories. He has since been a director or officer of more than a dozen resource juniors. His shell-making partner, Mr. Williamson, 58, is a geologist in Edmonton. He has been a director or officer of about 20 resource juniors. These men each hold 400,000 escrow shares of Cortus Metals, out of 2.2 million escrow shares.

Mr. Williamson and Mr. Mager have had a couple of Nunavut gold promotions, Committee Bay Resources Ltd. and North Country Gold Corp. Committee Bay traded up to $2.55 in early 2004 and then declined to 45 cents in late 2005. North Country went from 25 cents to $2.05 and back to 25 cents between 2010 and 2012. The duo's best-performing stock so far has been their Labrador nickel explorer, Brilliant Mining Corp., which peaked at $2.90 in 2007.

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