14:21:59 EDT Thu 22 Oct 2020
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Shell Summary for Sept. 21, 2020

2020-09-21 20:49 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange dropped 25.51 points to 719.86 Monday. Terry Salman and Mirza Rahimani's first capital pool shell, Altina Capital Corp. (ALTN), has completed its $400,000 initial public offering at 10 cents. The IPO agent was Haywood Securities Inc. Altina's stock will begin trading on Wednesday.

Mr. Salman, 78, was the founder, chairman, president and chief executive officer of Salman Partners Inc., a Vancouver brokerage that operated from 1994 to 2016. Salman Partners closed its doors after resource sector declines (oil prices crashed in 2014, and the mining sector hit a low in 2015). Earlier in his career, Mr. Salman spent 21 years at Nesbitt, Thomson & Co. Ltd., a predecessor of BMO Nesbitt Burns Inc. These days, he runs an investment advisory firm called Salman Capital Inc. He is also a director of Independence Gold Corp. (IGO: $0.14), a B.C. gold explorer. He is the largest escrow shareholder of Altina Capital with 900,000 escrow shares out of four million.

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