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Shell Summary for June 10, 2021

2021-06-10 20:38 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 3.07 points to 979.91 Thursday. Scott Ackerman's capital pool shell, ECC Ventures 2 Corp., has closed its qualifying transaction, which was a Nevada gold-silver deal. Today, the resulting issuer began trading as Infield Minerals Corp. (INFD: $0.38). It reached an intraday high of 42 cents before closing at 38 cents on 147,400 shares.

ECC 2 listed in April, 2018, with a $200,000 initial public offering at 10 cents. In connection with its QT, the shell rolled back 1 for 2.25, so its IPO investors need 22.5 cents from Infield to break even.

Mr. Ackerman is the president of Emprise Capital Corp., a shell-packaging company in Vancouver (both for capital pool shells and for out-of-favour NEX and Canadian Securities Exchange listings, which have no operations and are essentially just shells). In 2019, his ECC Ventures 1 Corp. closed its QT by launching A2Z Technologies Canada Corp. (AZ: $4.13), an Israeli robotics company. ECC 1's IPO investors needed 14 cents from A2Z to break even. Mr. Ackerman's ECC Ventures 3 Corp. (ECCT) expects to close its $200,000 IPO at 10 cents by Monday. Its IPO agent is Research Capital Corp.

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