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by Stockwatch Business Reporter
The TSX Venture Exchange closed up 3.83 points to 390.38 Tuesday, but it ended the month down 107.23
points. Two capital pool shells have each filed a final prospectus for an initial public offering. First, there is Kevin Smith's
first capital pool shell, Freeform Capital Partners Inc., which has increased the size of its IPO to $300,000 from $250,000. (This is not the first increase; Freeform originally planned to sell a $200,000 IPO.) Freeform's IPO price is unchanged at 10 cents. Its IPO agent is Haywood Securities Inc.
Mr. Smith, 35, lives in North Vancouver. He is the president of his family's business, Bypass Equipment Ltd., a farm equipment supplier in Langley. He is also the chief executive officer of a private company called Mucho Cobre Resources Ltd., which owns a B.C. mining property but is seeking "other viable business opportunities."
Mr. Smith is the CEO of four private shells that were spun off in 2018 from Ron Miles's Canadian Securities Exchange-listed EVI Global Group Developments Corp. The spinoffs were part of EVI Global's efforts along the lines of "maximizing shareholder value." The shareholders of EVI Global received shares in each spinoff. Those spinoffs each received a small amount of cash from EVI Global to start with, and now they are looking for businesses to launch. One of the spinoffs, Polarity Minerals Corp., has since arranged a mining deal. The other three spinoffs -- EVI Ventures Corp., Quri-Mayu Developments Ltd. and Evolution Global Financial Corp. -- are still seeking deals. EVI Ventures and Quri-Mayu are looking into mining, while Evolution Global is considering financial services and technology.
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