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Shell Summary for July 9, 2019

2019-07-09 21:35 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed down 2.55 points to 585.48 Tuesday. Blair Wilson and Jason McDougall have filed a preliminary prospectus to list their first capital pool shell, Genesis Acquisition Corp. It plans to sell a $460,000 initial public offering at 20 cents through Canaccord Genuity Corp.

Mr. Wilson, 56, is the shell's promoter, president, chief executive officer and chief financial officer. He is also a director, but he is not among the largest escrow shareholders of the shell. He and his wife, Kelly Wilson, 57, hold a combined 200,000 escrow shares out of 1.35 million. Genesis Acquisition sold its escrow shares at 10 cents in April. Mrs. Wilson is the shell's corporate secretary (but not a director).

In January, 2006, Mr. Wilson was elected as the member of Parliament for West Vancouver-Sunshine Coast-Sea to Sky Country. He was with the Liberals at the time. In October, 2007, The Province published an article that made a variety of allegations about debts, campaign spending and several business ventures. Mr. Wilson, a chartered accountant, was the federal Liberals' critic for national revenue.

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