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Shell Summary for June 22, 2020

2020-06-22 20:23 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange climbed 10.24 points to 577.44 Monday. Kevin Smith's first capital pool shell, Freeform Capital Partners Inc. (FRM), has listed with a $300,000 initial public offering at 10 cents. Its IPO agent was Haywood Securities Inc. Not unusually for a shell, Freeform has yet to trade.

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 Mucho Cobre Resources Ltd., a private company that acquired a B.C. copper-silver-gold property in January, 2019. Mucho Cobre had working capital of $204,300 on Nov. 30, 2019, and does not appear to have begun exploration at its property yet.

Mr. Smith is also the CEO of four private shells. One of them, Polarity Minerals Corp., is working on a mining deal. Two of them, EVI Ventures Corp. and Quri-Mayu Developments Ltd., plan to seek mining deals. The remaining private shell, Evolution Global Financial Corp., aims to seek an e-commerce deal. Mr. Smith therefore has five shells for which to find and close deals, though only one of them is a TSX-V shell, Freeform Capital.

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