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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 1.78 points to 813.94 Monday. Daniel Whittaker and Wade Dawe's capital pool shell, Northwest Arm Capital Inc. (NWA), has listed on the TSX-V. It is the 14th shell to list this year. By this time last year, 12 shells had listed. Northwest Arm sold a $300,000 initial public offering of shares at 10 cents through Haywood Securities Inc. Unusually for a shell, Northwest Arm traded on its first day. There were two trades, each of 15,000 shares at 20 cents from an anonymous seller.

Northwest Arm is the second shell founded by the duo of Mr. Whittaker and Mr. Dawe. Each of them holds 3.5 million of the shell's 8.4 million escrowed shares. Mr. Whittaker is a chartered financial analyst and a management consultant. Mr. Dawe is a resource stock promoter, who is best known as the chairman and chief executive officer of Timmins gold producer Brigus Gold Corp. Brigus peaked at $2.15 and is now a part of Primero Mining Corp. (P: $2.19). When Primero acquired Brigus, some of Brigus's gold properties were spun off into Fortune Bay Corp. (FOR: $0.64). Mr. Dawe remains the chairman and CEO of Fortune Bay.

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