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Shell Summary for Aug. 4, 2015

2015-08-04 21:00 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 4.43 points to 589.88 Tuesday. Ron Schmeichel, Toronto's most prolific shell packager, has filed a preliminary prospectus for a new capital pool shell, Mira IX Acquisition Corp. Richardson GMP Ltd. will sell Mira IX's $250,000 initial public offering of 2.5 million shares at 10 cents. This will be Mr. Schmeichel's 19th capital pool shell to list in his 19-year shell-making career. It will also be his second Mira shell to list in 2015. Last April, Mira VII Acquisition Corp. (MVA: $0.115) went public with a 10-cent IPO, also sold by Richardson GMP. For unknown reasons, there is no Mira VIII, and Mr. Schmeichel is not about to say why.

Two weeks ago, Mira IX sold 10 million escrow shares at five cents for $500,000, the maximum amount that a capital pool shell can raise by selling seed stock according to TMX policy. JJR Capital Holdings Inc., an investment company controlled by Mr. Schmeichel, is the largest shareholder with 9.7 million escrow shares. Mr. Schmeichel, 48, directly owns 100,000 escrow shares, for a total control of 9.8 million shares. He is Mira IX's president, chief executive officer, chief financial officer and secretary.

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