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Shell Summary for Feb. 20, 2020

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

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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 581.14 Thursday. Geoff Balderson's eighth capital pool shell, Spectre Capital Corp. (SOO), expects to close its initial public offering tomorrow. It is raising $200,000 at 10 cents through Canaccord Genuity Corp. The shell also expects to close a concurrent $141,000 private placement at 10 cents. Following its IPO closing, its stock will likely begin trading next week.

Mr. Balderson, 41, lives in Vancouver and is a former broker. From 2000 to 2001, he worked at Georgia Pacific Securities Corp., and then he spent four years at Union Securities Ltd. He has since been a director or officer of about 20 public companies. He is the chief executive officer of the Canadian Securities Exchange-listed Tracker Ventures Corp. (TKR: $0.085), which previously sold supply chain management software. It was not profitable. In September the company sold its operating subsidiary, and then in October it rolled back 1 for 20. At the end of November, it had a working capital deficit of $52,000. With no business or money, Tracker is now essentially a shell, though the CSE has not yet formally declared it inactive. Tracker, formerly called Trackloop Analytics Corp., peaked at a modest 12.5 cents in early 2018. (This price is not adjusted for the recent rollback.)

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