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Shell Summary for March 13, 2018

2018-03-13 20:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.35 points to 829.05 Tuesday. Rana Vig has listed his first capital pool shell, Blue Bay Capital Inc. (BLUE), following a $500,000 initial public offering at 10 cents. It has yet to trade. Blue Bay sold 2.9 million escrow shares at five cents in July. Mr. Vig bought 550,000. That was around the same time he joined another shell, seven-year-old Jinhua Capital Corp. (JHC: $0.05), as chief executive officer. Jinhua has yet to announce a qualifying transaction. The new CEO has experience in both publishing and mining. From 1993 to 2010, he and his brother published Mehfil, a lifestyle magazine for South Asian Canadians. In 2014, they compiled some of the Mehfil columns into a book titled, "The 100 Year Journey." It sells for $50 on Amazon.

Mr. Vig has also been the president of two mining juniors, Musgrove Minerals Corp. and Continental Precious Minerals Inc. Neither was a successful promotion. At Musgrove, while looking for copper in Idaho, he had to roll back the stock three times: 1 for 5 in 2012, 1 for 3 in 2015 and 1 for 2 in 2016. The 2016 rollback preceded a change of business and a change of name to Rewardstream Solutions Inc. (REW: $0.42), a referral marketing company. Mr. Vig stayed on as vice-chairman of Rewardstream until November, 2017, leaving just before the stock rolled back again: 1 for 10. At Continental Precious Minerals, Mr. Vig also had to roll back his shareholders, 1 for 6 in 2014. The company is now defunct. Last month, Mr. Vig joined Maccabi Ventures Inc. (MBE: $0.05) as CEO. There, he is also planning to roll back the stock, 1 for 10, and change the company's name to Lead Ventures Inc. Maccabi has one copper property in British Columbia, but it has been unable to explore with negative $40,000 in working capital.

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