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Shell Summary
Symbol C : *MKTSHEL
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Shell Summary for July 10, 2018

2018-07-10 19:53 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 740.34 Tuesday. Charalambos (Harry) Katevatis has filed a preliminary prospectus to list his first capital pool shell, Kapa Capital Inc. The shell expects to sell a $200,000 initial public offering at 10 cents through Canaccord Genuity Corp.

Mr. Katevatis, 76, was a broker from 1976 to 2003 with Canaccord Genuity's predecessors, Canaccord Capital Corp. and Canarim Investment Corp. After leaving the brokerage firm in 2003, he founded Lakithra Management Corp., through which he continues to offer his management services to private and public companies.

Mr. Katevatis has taken six mining juniors public. They all sold their IPOs through Canaccord Capital or Canaccord Genuity, between 2005 and 2013. First, there was a B.C. copper-gold explorer, Carat Exploration Inc., which went public with a $600,000 IPO at 30 cents. Carat peaked at $2.05 in 2007 and later became a part of Goldsource Mines Inc. (GXS: $0.06) in 2014. Following Carat was Mr. Katevatis's most successful promotion, a B.C. gold explorer called Academy Ventures Inc., which sold a $900,000 IPO at 30 cents in December, 2007. Six months after listing, Academy traded up to $2.25. Then in December, 2008, Academy split its shares 2 for 1 and remade itself into a Guyanese bauxite explorer (bauxite is a rock that contains aluminum) called First Bauxite Corp. (FBX: $0.04). First Bauxite traded up to $1.70 in January, 2010. If any of Academy's IPO shareholders got out at that price in that month, then they would have made a 1,033-per-cent profit on a two-year investment.

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