Shell Summary for March 15, 2018

by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 828.08 Thursday.Mohammad Fazil has filed a preliminary prospectus to list his second capital pool shell, Elephant Hill Capital Inc.The shell plans to sell a $300,000 to $500,000 initial public offering at 10 cents through Chippingham Financial Group Ltd.

Elephant Hill sold two million escrowed shares at five cents in January. Mr. Fazil, 55, a former broker living in Calgary, bought 900,000 of the escrowed shares. From 1994 to 2013, he worked at four brokerage firms: Global Securities Corp. (for nearly 10 years), Mackie Research Capital Corp. (for six years), Union Securities Ltd. (for two years) and PI Financial Corp. (for 10 months), in that order. Then from July, 2014, to May, 2017, Mr. Fazil was the president of a private pharmaceutical researcher called Scythian Biosciences Inc., which was hoping to come up with marijuana-based drugs for concussions and other traumatic brain injuries. As well, from June, 2015, to February, 2018, he was the president of an Indonesian oil and gas explorer called Bow Energy Ltd., which peaked at 20 cents just before it was acquired for shares by the OTCQB-listed Petrolia Energy Corp. (BBLS: $0.10 (U.S.)). Shareholders of Bow Energy received 1.5 shares of Petrolia in exchange for each Bow Energy share held. Since closing this deal at the end of February, the thinly traded Petrolia has dropped from 45 U.S. cents.

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