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Shell Summary for Sept. 16, 2019

2019-09-16 21:16 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 588.51 Monday. Eva Koci has filed a preliminary prospectus to list her first capital pool shell, Klinik Health Ventures Corp., with a $2-million to $3-million initial public offering at 20 cents. The IPO agent is Bloom Burton Securities Inc.

Bloom Burton is an 11-year-old investment banking firm in Toronto under Brian Bloom and Jolyon Burton. It typically raises money not for capital pool shells but for health-care-related companies (including health-care-focused tech firms). Last month, Bloom Burton was the lead agent for an $8.05-million public offering at 30 cents by Antibe Therapeutics Inc. (ATE: $0.395), which is working on treatments for chronic pain and inflammation. Last week, Bloom Burton was one of five firms that together raised $70-million (U.S.) at $7.10 (U.S.) for Bellus Health Inc. (BLU: $9.54). This company is working on a treatment for chronic cough and chronic itch. Its stock rolled back 1 for 3.6 last month.

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