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Shell Summary for March 20, 2020

2020-03-20 18:08 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 2.87 points to close at 356.54 Friday, but it ended the week down 34.58 points. Jamie Levy and Kerry Knoll have listed their first capital pool shell together, Moon River Capital Ltd. (MOO: $0.15), with a $260,000 initial public offering at 10 cents. (For the curious, the ticker symbol MOON is already taken by Blue Moon Zinc Corp. (MOON: $0.015).) The shell's IPO agent was Canaccord Genuity Corp. Today, there were two trades, both Canaccord crosses at 15 cents, for a total of 30,000 shares.

Mr. Levy, 49, was previously a vice-president of trading at Pinetree Capital Ltd. (PNP: $0.85) and was a trader at Byron Securities Ltd. In the last 13 years, he has participated in at least 45 private placements, mostly by mining juniors. From 2013 to 2018, he was the president and chief executive officer of Darnley Bay Resources Ltd. This company's stock peaked at 57 cents in 2017, thanks to its newly acquired (at the time) Pine Point zinc property in the Northwest Territories. Later that year, Darnley Bay changed its name to Pine Point Mining Ltd. In 2018, with Pine Point Mining's stock at 21 cents, the company was acquired by Osisko Metals Inc. (OM: $0.30) in an all-share deal. Osisko was after the Pine Point property.

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