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Shell Summary for July 11, 2019

2019-07-11 21:49 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 5.45 points to 580.40 Thursday. Sally Poon and Anthony Zelen have filed a preliminary prospectus to list their first capital pool shell, Jessy Ventures Corp. It plans to sell a $200,000 initial public offering at 10 cents through Leede Jones Gable Inc.

Ms. Poon, 46, lives in Hong Kong. She holds 1.2 million of the shell's two million escrow shares. Jessy Ventures sold its escrow shares at five cents between November, 2018, and April, 2019. Ms. Poon is the largest escrow shareholder and a director, but she is neither an officer nor the promoter of the shell. She works as a manager at Pacific Century Premium Developments Ltd., a residential and commercial property developer in East and Southeast Asia. Pacific Century trades on the Hong Kong Stock Exchange and last closed at $2.07 (Hong Kong). It has a market cap of $832.5-million (Hong Kong).

Ms. Poon also runs a start-up called Erin Danette Group Ltd., which describes itself as a real-estate-focused investment management and advisory firm. Erin Danette's management comprises Ms. Poon and young Simon Tso, 29, a chartered accountant and chartered financial analyst in Vancouver. Mr. Tso is identified as Jessy Ventures' promoter, chief financial officer and secretary. He is also a director. He holds 160,000 escrow shares of the shell.

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