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Shell Summary for May 25, 2020

2020-05-25 20:26 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 4.90 points to 541.84 Monday. Terry Salman and Mirza Rahimani have filed a preliminary prospectus to list their first capital pool shell, Altina Capital Corp., with a $300,000 initial public offering at 10 cents. The IPO agent is Haywood Securities Inc.

Mr. Salman, 78, was the founder, chairman, president and chief executive officer of Salman Partners Inc., a Vancouver brokerage that operated from 1994 to 2016. Salman Partners was among the firms that ceased operations in 2015 and 2016, after suffering from resource sector declines (oil prices crashed in 2014, and then the mining sector hit a low in 2015). From June, 2002, to June, 2003, Mr. Salman was also the chairman of the Investment Dealers Association of Canada, now called the Investment Industry Regulatory Organization of Canada.

Earlier, between 1962 and 1968, Mr. Salman was a U.S. Marine in Vietnam. He later spent 21 years at Nesbitt, Thomson & Co. Ltd., a predecessor of BMO Nesbitt Burns Inc. He joined Nesbitt, Thomson as a research analyst and eventually became an executive vice-president. He left in 1994 to form Salman Partners.

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