This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange closed up 6.63 points to 966.28 Friday. Pat DiCapo and David D'Onofrio's fifth capital pool shell, POCML 5 Inc., has closed a Colombian gold deal for its qualifying transaction. Its resulting issuer began trading today as Collective Mining Ltd. (CNL), opening at $3 and closing at $3.05 on 58,600 shares. We last discussed this QT in the Shell Summary for May 18, 2021.

Mr. DiCapo and Mr. D'Onofrio are, respectively, the chief executive officer and the chief financial officer of PowerOne Capital Markets Ltd., an exempt market dealer in Toronto. Their first four shells yielded four successes and no failures for their respective initial public offering investors, by our measure. We consider a capital pool shell to have been a success for its IPO shareholders if they had sufficient opportunity to get out of their investment with a profit, reasonably soon after the shell closed its QT. The duo listed its fifth shell, POCML 5, in December, 2018, with a $200,000 IPO at 10 cents. In connection with its Colombian gold QT, the shell rolled back 1 for 4, so its IPO investors need 40 cents to break even. Today's chart for Collective Mining bodes well for them so far, but we will wait for about a year before calling POCML 5 either a success or a failure for its IPO investors. (A 5-0 shell-making record is rare; 3-2 or 2-3 is more common.) Last month, Mr. DiCapo and Mr. D'Onofrio listed POCML 6 Inc. (POCC: $0.17) with a $280,000 IPO at 10 cents. It has yet to announce a QT plan.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS