This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Stockwatch Business Reporter
The TSX Venture Exchange lost 6.20 points to 769.02 Monday. Two capital pool shells began trading today. One of them is Bryan Bayley and Murray Sinclair's 26th capital pool shell, Quendale Capital Corp. (QOC), which opened at 30 cents and closed at 34 cents on 52,300 shares. Quendale sold a $202,500 initial public offering at 15 cents through Haywood Securities Inc.
The other new shell is Katharine De Witt's first shell, Magnitude Mining Ltd. (MML), which opened and closed at 30 cents on 40,300 shares. Magnitude sold a $200,000 IPO at 10 cents through Canaccord Genuity Corp. Ms. De Witt, 29, is a lawyer and a daughter of David De Witt, the chairman of Sandstorm Gold Ltd. (SSL: $5.74). Her shell plans to seek a mining deal for its qualifying transaction.
Two shell graduates also began trading today. They are both marijuana producers in Ontario. One of them, James E. Wagner Cultivation Corp. (JWCA), reached an intraday high of $1.37 before closing at $1.15 on 1.19 million shares. The company was founded by siblings Nathan Woodworth, Laura (Woodworth) Foster and Adam Woodworth, who named the company after their late grandfather. James E. Wagner Cultivation went public through Marc Sontrop's first capital pool shell, Aim1 Ventures Inc. Mr. Sontrop is the president of Interward Asset Management Ltd., an investment company in Toronto.
He listed Aim1 in September with a $427,650 IPO at 10 cents. In connection with its QT, Aim1 rolled back 1 for 4.8475, so its IPO shareholders need about 48.5 cents to break even. They are doing well so far. Mr. Sontrop is not joining James E. Wagner Cultivation.
The remainder is available to Stockwatch subscribers.
© 2018 Canjex Publishing Ltd. All rights reserved.