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Shell Summary for Aug. 26, 2020

2020-08-26 20:23 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 15.64 points to 729.87 Wednesday. Yaniv Bresler has filed a preliminary prospectus to list his first capital pool shell, Cross Border Capital I Inc. It plans to sell a $260,000 to $300,000 initial public offering at 10 cents through Haywood Securities Inc.

Mr. Bresler, 46, lives in Tel Aviv. He was previously a paratrooper, officer and commander in the Israel Defence Forces (IDF). Now, he remains in the IDF reserves as a major. He is also a lawyer. In 2007, Mr. Bresler co-founded Athlone Global Security Ltd., a private Israeli firm that billed itself as an acquirer of U.S. homeland security businesses. The main promoters of Athlone were Doron Almog and Stan Bharti. Mr. Almog is a former major-general of the IDF. Mr. Bharti is a long-time Toronto promoter, who has invested in many resource juniors. The duo's Athlone Global invested in U.S. security-focused tech start-ups, but unfortunately for the company's backers, most of its investments went nowhere. Both Mr. Almog and Mr. Bharti left the firm in 2010. Athlone then appointed its accountant and its legal counsel as co-chief executive officers. That legal counsel was Mr. Bresler. By 2012, Athlone's investments had come down to minority interests in three tech start-ups, none of which involved security. In 2015, Mr. Bresler left the company.

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