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by Stockwatch Business Reporter

The TSX Venture Exchange increased a fraction to 683.20 Tuesday. Lawrence Ho's halted capital pool shell, Alpha Peak Leisure Inc. (AAP), has closed a $15.03-million private placement of 8,355,334 subscription receipts at $1.80 as the shell finally prepares to close its qualifying transaction. Alpha Peak had originally intended to sell a minimum $25-million private placement, but it lowered the minimum in May. The shell will soon close its acquisition of the Swallows' Gully tourism destination in Sichuan province, China.

Alpha Peak plans to acquire Total Wonder Enterprises Ltd. from 1016772 B.C. Ltd. for 45,356,146 shares, of which 25,106,747 will go to CN Lifestyle Ltd., a Hong Kong company controlled by two wealthy Hong Kong brothers, Bob Hot-Hoi Chong and Charles Hok-Hei Chong. The Chongs, both of whom will join the Alpha Peak board when the QT closes, are managing directors of the Chung Nam Group, a Hong Kong conglomerate with over 10,000 employees. Peter Kai-Sing So, who owns a 300,000-square-foot factory for manufacturing bags -- cooler bags, sports bags, computer bags, lunch bags, hand bags, briefcases, backpacks and so on -- in Shenzhen, China, will become a director and the second-largest shareholder with 10,361,352 shares. The bag man's children, Jackson and Linda So, are also the beneficial shareholders of Merit Sign Holding Ltd., which will receive 3,672,378 shares. Linda's husband, Harold Poon, will receive 1,799,465 shares, join the board of Alpha Peak and take over as chief executive officer. Mr. Poon, 39, used to work for Oracle Corp. (ORCL: $41.72 (U.S.)) as a manager of the software firm's management consulting division in the Asia-Pacific region.

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