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Shell Summary for Aug. 28, 2014

2014-08-28 20:53 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange added 3.03 points to 1,022.37 Thursday. Alfredo De Lucrezia's first capital pool shell, Manera Capital Corp. (MEA), listed on the TSX-V today as the third and final capital pool shell of the month. There are more on the way. Rocky Bellotti, the son of Bay Street investor Frank Bellotti, has filed a preliminary prospectus for his first capital pool shell, BFK Capital Corp. Canaccord Genuity will sell the shell's $600,000 initial public offering of one million shares at a pricey 60 cents a share (capital pool shells usually sell IPO shares at 10 cents or 20 cents). Sixty cents is the same price that IPO subscribers paid for David Danziger's Aumento Capital IV Corp. (AUO), the previous capital pool shell listed by Canaccord.

Between April and June of this year, BFK Capital sold 1,666,665 escrow shares at 30 cents to 15 insiders. Rocky Bellotti, the 28-year-old president of the shell, owns 116,667 escrow shares. He has a law degree and works as a vice-president at BG Partners Inc., a resource investment company in Toronto founded by papa Frank and Ned Goodman. Before joining BG Partners, Rocky spent two summers interning at Mr. Goodman's Dundee Corp. (DC: $18.62). Although BFK Capital is Rocky's first time managing a capital pool shell, he is also a director of Focused Capital II Corp. (FAV), a capital pool shell launched by the Goodman family that last traded at 1.5 cents and in April transferred to the NEX for failing to complete a QT within 24 months of listing. There are no Goodmans in the BFK Capital documents but Mr. Bellotti Sr. is there. Although he is not a director, he is the shell's largest escrow shareholder with 383,334 shares.

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