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Shell Summary for May 5, 2020

2020-05-05 20:22 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange rose 4.40 points to 480.47 Tuesday. Catherine Wilson and Ted Manziaris have listed their first capital pool shell, Trillium Acquisition Corp. (TCK), following a $717,140 initial public offering at 10 cents. The IPO agent was Echelon Wealth Partners Inc. Trillium had hoped to raise up to $4-million in its IPO, but the minimum shell IPO is only $200,000, so the $717,140 that Trillium raised will do just fine. Not unusually for a capital pool shell, Trillium's stock did not trade today.

Ms. Wilson lives in New Jersey and is the vice-president of finance for Tommy Hilfiger, one of the clothing brands owned by PVH Corp. (PVH: $44.27 (U.S.)). She was previously a senior accountant at Ernst & Young Global Ltd. Her shell-making partner, Mr. Manziaris, lives in Toronto and was the founder of Turtle Island Recycling Corp., a garbage collection, disposal and recycling company. He sold Turtle Island in 2011 for an undisclosed amount. From 2014 to 2017, Mr. Manziaris was a trustee of Edgefront Real Estate Investment Trust, now called Nexus Real Estate Investment Trust (NXR: $1.54). While he was there, Edgefront traded between $1.35 and $2.50. Mr. Manziaris and Ms. Wilson's Trillium Acquisition plans to seek a real estate deal for its qualifying transaction.

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