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Shell Summary for April 21, 2021

2021-04-21 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 14.15 points to 928.91 Wednesday. Two capital pool shells have closed their respective initial public offerings and will begin trading tomorrow. One of them is Mark Brown's first shell, Germinate Capital Ltd. (GCAP), which sold a $250,000 IPO at 10 cents through Echelon Wealth Partners Inc. The other is Fraser Elliott's first shell, Pivotal Financial Corp. (PIV), which sold a $2-million IPO at 20 cents through iA Private Wealth Inc.

Germinate Capital's Mr. Brown, 51, is a Vancouver accountant who runs an investment and consulting firm, Pacific Opportunity Capital Ltd. He is also the executive chairman of Alianza Minerals Ltd. (ANZ: $0.115), which is a gold explorer in Yukon and Colorado, and is the chief executive officer of Mich Resources Ltd. (MICH: $0.25), which is a Yukon gold junior. Two weeks ago, he became the chief financial officer of Copper Fox Metals Inc. (CUU: $0.46), which has properties in Canada and the United States. Mr. Brown's shell, Germinate, has not specified a type of qualifying transaction that it plans to seek, but a mining deal would not be surprising.

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