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Shell Summary for April 7, 2021

2021-04-07 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 8.87 points to 955.09 Wednesday. Tyler Rice plans to list his first shell, Veteran Capital Corp., with a $225,000 initial public offering at 10 cents. The IPO agent is Haywood Securities Inc.

Mr. Rice, 39, runs an accounting firm in Calgary called Rice & Company LLP. From February, 2012, to January, 2021, he was the president and chief executive officer of Cassiar Gold Corp. (GLDC: $0.47), a B.C. gold explorer, formerly called Margaux Resources Ltd. Under his watch, the stock spent most of its time between 10 and 40 cents. In September, 2020, immediately following a 1-for-5 rollback, Cassiar reached an intraday high of $1.20 but closed at 85 cents that same day. It has since declined.

At Veteran Capital, Mr. Rice holds 600,000 escrow shares out of 2.2 million. The shell sold its escrow shares at five cents in January. Two of Mr. Rice's fellow shell directors, Grant MacKenzie and Aaron Matlock, likewise hold 600,000 escrow shares each. Mr. MacKenzie, 43, is a partner at Dentons Canada LLP in Calgary. He has been the secretary of at least two oil and gas juniors, one of which was Carmen Energy Inc., a predecessor of Cassiar Gold and Margaux Resources.

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