19:25:40 EST Wed 14 Nov 2018
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Shell Summary
Symbol C : *MKTSHEL
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Shell Summary for July 9, 2018

2018-07-09 19:28 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost a fraction to 739.70 Monday. Chris Frostad's first capital pool shell, Victory Capital Corp. (VIC: halted), plans to acquire Gravitas Ilium Corp. for the shell's qualifying transaction. The QT terms are not yet available, but the shell is being valued at 30 cents a share, and the target must raise at least $3-million.

Gravitas Ilium is a financial services holding company. It is 46.1 per cent owned by Gravitas Financial Inc. (GFI: $0.05), a holding company listed on the Canadian Securities Exchange. The chief executive officer of Gravitas Ilium and the founder of the Gravitas Group is David Carbonaro, a lawyer with Dentons Canada LLP in Toronto.

Gravitas Ilium holds 52.35 per cent of Gravitas Securities Inc., an investment dealer in Toronto and Vancouver with $400-million worth of capital under management. Gravitas Ilium also holds 96 per cent of Foregrowth Inc., which has launched six funds since 2016 and which has so far raised $28-million. Foregrowth is working on launching its seventh fund. Gravitas Ilium also holds 54.99 per cent of Gravitas Capital International Inc., a U.S. broker-dealer.

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