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by Stockwatch Business Reporter
The TSX Venture Exchange lost 20.64 points to 843.71 Thursday. Praveen Varshney's third capital pool shell, AAJ Capital 1 Corp. (AAJ: $0.10), has listed with a $250,000 initial public offering at 10 cents. Its IPO agent was Canaccord Genuity Corp. Not unusually for a shell, AAJ Capital did not trade today.
We last discussed Mr. Varshney's capital pool shell record in the Shell Summary for Nov. 6, 2017. We concluded then that his first two capital pool shells yielded one success and one failure for their IPO shareholders. We consider a shell to have been a success if its IPO shareholders had sufficient opportunity to get out of their investment with a profit, reasonably soon after the shell closed its qualifying transaction. As well, the shell should not have taken much longer than two or three years to complete a QT. Mr. Varshney closed a medical device deal and a hemp deal for his first two capital pool shells.
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