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Shell Summary for Aug. 15, 2019

2019-08-15 21:26 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell for the third day in a row, closing down 8.91 points to 568.78 Thursday. Sean Mager and John Williamson have filed a preliminary prospectus to list a capital pool shell called Duro Metals Inc. with a $300,000 initial public offering at 10 cents. The IPO agent is Mackie Research Capital Corp.

Mr. Mager, 52, is a mining and financial consultant in Edmonton. In the late 1990s and early 2000s, he worked with mining and logistics 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. Mr. Williamson is the chairman of Duro Metals, while Mr. Mager is the president and chief executive officer. They each hold 650,000 escrow shares of the shell, out of 3.3 million escrow shares issued.

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