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Shell Summary for May 24, 2019

2019-05-24 20:54 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 5.66 points to 607.68 Friday, but it ended the week down 1.47 points. John-David Belfontaine has filed a new preliminary prospectus to list his first capital pool shell, Conscience Capital Inc. The shell still plans to sell a $1-million to $1.5-million initial public offering at 10 cents through PI Financial Corp., but it has replaced all of its directors, hence the new prospectus.

Mr. Belfontaine, 40, remains the shell's promoter and largest escrow shareholder, but he has resigned from the board. He lives in Toronto and is an investor relations man, offering his services through Prime Wire Inc., also known as Prime Wire Media Inc. and formerly Prime Communications Inc. Before founding Prime in 2009, Mr. Belfontaine spent 16 months in retail marketing with The Empire Life Insurance Company (EML: $25.88), 10 months as a marketing manager with Sodexo Canada Ltd., which is a food services company (a caterer to school cafeterias, for example), and 16 months as a marketing co-ordinator with Cascades Inc. (CAS: $9.29), a tissue manufacturer.

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