EUO’s new boss has another new “hobby”
Shell Summary for April 30, 2018 by Stockwatch Business Reporter | | |
| The TSX-Venture Exchange slipped a fraction of a point to 783.63 Monday. John Travaglini has filed a preliminary prospectus to list his second capital pool shell, Platform 9 Capital Corp. Platform 9 plans to sell an initial public offering of between $200,000 and $700,000 at 10 cents through Haywood Securities Inc. Mr. Travaglini listed his first capital pool shell, Platform Eight Capital Corp. (PEP), in February with a 10-cent IPO, also through Haywood. Platform Eight is halted pending QT plans to acquire Growforce Holdings Inc., a newly licensed marijuana producer (see Shell Summary for April 25, 2018). Investors await more details, such as the amount of a proposed financing and a roll-back ratio. | | |
Two of Platform Eight's directors, Paul Wood and Sandra Kosziwka, have joined Mr. Travaglini at Platform 9. Mr. Wood is a director and Ms. Kosziwka is the shell's chief financial officer. Mr. Wood is also the CEO of two TSX-V companies,
BTU Metals Corp. (
BTU: $0.06), an Irish gold explorer, and
Eurocontrol Technics Group Inc. (
EUO: $0.08), a tech promotion. Ms. Kosziwka is a senior finance manager with CIBC. Platform 9 has two other directors: Rajamohan Natarajan and David Brown. Mr. Natarajan is vice-president of Mr. Travaglini's investment company, 4Front Capital Partners Inc. Mr. Brown is a lawyer at WeirFoulds LLP and a director of
Lorne Park Capital Partners Inc. (
LPC: $0.39).
Platform 9 sold 4.07 million escrowed shares at five cents in March. Mr. Travaglini acquired the largest position with 800,000. Haywood's vice-president of institutional sales and Toronto office branch manager, Rick Paolone, acquired the second-largest position with 780,000. (He is also the second-largest escrow holder at Platform Eight). Platform 9's third-largest escrow shareholder is Dain Currie with 500,000 shares. He is a former Haywood broker who moved to the Cayman Islands from Vancouver in 2013. Ms. Kosziwka owns 400,000 escrow shares. Directors Wood and Natarajan each own 300,000, and director Brown owns 200,000.