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Shell Summary for Dec. 12, 2019

2019-12-12 21:00 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained a fraction to close at 536.52 Thursday. Two capital pool shells have dropped their qualifying transactions in the past week. One of them is Chris Frostad's first capital pool shell, Victory Capital Corp. (VIC: suspended), which was working on a deal with Equinex North America (officially 1788938 Ontario Ltd.). Equinex's main operation in the past decade has been racehorse breeding in Ontario, but recently the company began billing itself as a more trendy business, an artificial intelligence platform developer. It attempted to hype an AI platform for assessing the health and performance of horses. In connection with its now-cancelled launch, Equinex hoped to raise $2.5-million (U.S.) to finance its platform development.

Mr. Frostad listed Victory Capital in November, 2017, with a $777,750 initial public offering at 20 cents. It was suspended two weeks ago for failing to close a QT within 24 months of listing. Mr. Frostad is a geologist and accountant in Toronto. He is the president and chief executive officer of Purepoint Uranium Group Inc. (PTU: $0.055), an Athabasca uranium explorer that peaked at $2 in 2007.

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