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Shell Summary
Symbol C : *MKTSHEL
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Shell Summary for Dec. 20, 2018

2018-12-20 19:59 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 4.86 points to 537.01 Thursday. John Varghese has filed a preliminary prospectus to list his second capital pool shell, Aqueren Capital Corp. This shell aims to sell a $500,000 initial public offering at 10 cents through Canaccord Genuity Corp.

Mr. Varghese, 53, lives in Toronto and has been a director of about a dozen public companies since the late 1990s. In 2004 and 2005, he was the chairman of Orion Securities Inc. He listed his first capital pool shell, Nobelium Tech Corp. (NBL: suspended), in April, 2016, with a $350,000 IPO at 10 cents. Nobelium was suspended in April, 2018, for failing to complete a qualifying transaction within 24 months of listing.

Nobelium's first QT attempt was the acquisition of an enterprise software developer, Viziya Corp. The deal fell through, and Viziya ended up being acquired instead by Wi-LAN Inc., which could afford it more easily than the shell could. When Viziya became a part of Wi-LAN in May, 2017, Mr. Varghese joined Wi-LAN as senior vice-president of corporate development. Wi-LAN soon changed its name to Quarterhill Inc. (QTRH: $1.26). Mr. Varghese left Quarterhill in February, 2018.

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