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TMX Group keeps fossilized shells in its NEX collection

2019-05-23 22:11 ET - Street Wire

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by Stockwatch Business Reporter

In a series of Street Wires, we are taking a look at the 10 most ancient capital pool shells on the NEX, along with some promoters whom investors might do well to avoid if they will not be pleased to wait up to 13 years for a single deal. (A capital pool shell should normally take only two or three years to close a qualifying transaction, certainly not more than a decade.) There are 172 capital pool shells listed on the TSX Venture Exchange and on its rehabilitation board, the NEX, and that seems more than enough. Thirty-four of the listed capital pool shells are more than five years old. Part 1 of this series was published on May 9, and in it we discussed the 10th and ninth oldest listed capital pool shells. Part 2 was published on May 13, continuing the countdown with the eighth, seventh and sixth oldest listed capital pool shells. Here in part 3, we pick up from the fifth oldest listed capital pool shell.

No. 5) Fitch Street Capital Corp. (FSC: halted)

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