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by Stockwatch Business Reporter
The TSX Venture Exchange fell a fraction to 831.15 Wednesday. Ron Schmeichel has listed his 20th capital pool shell, Mira X Acquisition Corp. (MIRA: $0.10). It has yet to trade. Mira X sold a $350,000 initial public offering at 10 cents through Canaccord Genuity Corp. Mr. Schmeichel, 50, is the shell's chief executive officer, its chief financial officer, its secretary and a director. He is also the largest escrow shareholder with 11 million of Mira X's 11.2 million escrowed shares.
Mr. Schmeichel's first 17 shells yielded 14 successes and three failures for their IPO investors, as we discussed in the Shell Summary for Feb. 11, 2016. 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. Mr. Schmeichel closed his 18th QT in June, 2017, when his Mira VII Acquisition Corp. launched a Montreal food delivery company, Goodfood Market Corp. (FOOD: $2.64). Mira VII's IPO investors, who paid 10 cents a share, were rolled back 1 for 22.22 in connection with the QT, so their break-even price is about $2.22. So far, Goodfood has traded between $1.20 and $3.50.
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