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by Stockwatch Business Reporter
The TSX Venture Exchange lost 1.99 points to close at 584.91 Wednesday. Mark Sumner's first capital pool shell,
Daura Capital Corp. (DUR), has closed its $200,000 initial public offering at 10 cents. Its IPO agent was Leede Jones Gable Inc. The stock will begin trading on Friday.
Daura is the 47th shell to list on the TSX-V this year. By this time last year, 48 shells had listed. At the other end of the capital pool shell journey, 21 shells have closed their respective qualifying transactions so far this year. By this time last year, 25 shells had closed their QTs. There are now 185 capital pool shells listed on both the TSX-V and the NEX. (Aging shells, those that fail to close QTs within 24 months or so of listing, are bumped down to the NEX.) Of the 185 listed shells, 76 have QTs in progress, including Daura Capital.
In Daura's June, 2019, prospectus, it already identified a potential QT target, a private Peruvian gold explorer called Estrella Gold SAC. This company has a 7,500-hectare property in the Ancash region in northern Peru. There are no terms yet for Daura's potential QT with Estrella, but if the deal closes, then the resulting issuer's insiders will include Diego Cilloniz and Ernesto Osorio.
These two men will join the shell's existing directors and officers. Mr. Cilloniz is a lawyer in Lima. His work has involved mostly mining and energy companies. From 2011 to 2013, he was the regional legal counsel in Peru, Chile and Honduras for Nyrstar NV, a miner based in Belgium.
The other proposed insider, Mr. Osorio, studied engineering in Uruguay and has worked with mining firms in Uruguay, Argentina and Brazil. These days, he is the chief operating officer of Valor Resources Ltd., a copper-silver explorer in southern Peru.
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