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by Stockwatch Business Reporter
The TSX Venture Exchange lost 2.94 points to 611.94 Friday, ending the week down 10.92 points. Mick Thomson has filed a preliminary prospectus to list his 10th capital pool shell, Panorama Capital Corp., with a $250,000 to $500,000 initial public offering at 10 cents. The shell's IPO agent is Haywood Securities Inc.
Mr. Thomson, 61, is a securities lawyer who long ago worked in the risk assessment departments of two brokerage firms, C.M. Oliver & Co. Ltd. and Research Capital Corp. He has listed nine capital pool shells. We last discussed his shell-making record in the Shell Summary for Sept. 21, 2017, in which we calculated that his first seven shells yielded five successes and two failures for their IPO investors. We consider a capital pool shell to have been a success for its IPO investors if they had sufficient opportunity to get out of their investment with a profit, reasonably soon after the shell closed its qualifying transaction.
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