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Shell Summary for Feb. 12, 2020

2020-02-12 20:23 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 1.39 points to 571.73 Wednesday. James Cassina's second capital pool shell, Good2go2 Corp. (GOAL), expects to close its initial public offering before the markets open tomorrow. It is selling a $225,000 IPO at 10 cents through Haywood Securities Inc. Pending confirmation to the exchange of the shell's IPO closing, Good2go2 will begin trading tomorrow.

Mr. Cassina, 62, was the chairman of EnerNorth Industries Inc., an Alberta oil and gas producer that planned to build a mobile power plant (on a barge) in India. In 2002, the Indian government rejected the proposal. EnerNorth then continued its Alberta operations, thanks to which its stock traded up to $4.45 (U.S.) on the New York Stock Exchange in 2005. Later, however, the company went bankrupt. It delisted in 2007.

These days, Mr. Cassina is a director of Hassan Thermal Power (P) Ltd., which has been hoping to build a coal-fired power plant in India since 1996. In 2016, the Indian government withdrew its approval for the power plant, because Hassan Thermal had done almost nothing to advance the project in more than 15 years. According to Hassan's website, it has appealed the withdrawal of approval.

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