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Shell Summary for Dec. 21, 2018

2018-12-21 19:27 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 6.81 points to 530.20 Friday, ending the week down 25.18 points. Craig Rollins's first capital pool shell, Drummond Ventures Corp. (DVX), has closed its $225,000 initial public offering at 20 cents. Its IPO agent was PI Financial Corp. Drummond's stock will begin trading on Dec. 27.

Mr. Rollins, 37, practised law with Clark Wilson LLP in Vancouver from 2008 to 2016. He has since moved to Bangkok and is now the general counsel and secretary of Axion Ventures Inc. (AXV: $0.89), a video game developer operating in Bangkok and Shanghai. At Drummond Ventures, Mr. Rollins's fellow directors include Grant Kim, 43, a director of Axion. Mr. Kim lives in Vancouver.

Drummond has one more director, Vancouver mining promoter Marcel de Groot, 45. From 2000 to 2012, he was the chairman of Luna Gold Corp., a Brazilian gold explorer. Luna peaked at $1.69 in 2008 and is now a part of Equinox Gold Corp. (EQX: $0.96). Mr. de Groot remains on the board of Equinox but is not the chairman. From 2010 to 2014, Mr. de Groot was a director of Sandstorm Metals & Energy Ltd., now a part of Sandstorm Gold Ltd. (SSL: $6.18).

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