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by Stockwatch Business Reporter

The TSX Venture Exchange fell 9.69 points to 985.20 Monday. Benoit Chotard's first capital pool shell, Orletto Capital Inc. (OLE), will list on the TSX-V tomorrow, making it the first capital pool shell to list in September and the 12th in 2014. By this time last year, 28 capital pool shells had already listed on the TSX-V, but the decline in the number of new capital pool listings this year should be seen as a good thing; the sector remains overcrowded. There are 156 capital pool shells on the exchange, of which 35 are suspended, 48 are halted, and 73 are trading and searching for a qualifying transaction.

Nargis Sunderji of Richardson GMP Ltd. sold Orletto's $349,300 initial public offering of 3,493,000 shares at 10 cents. It is Richardson GMP's first capital pool shell to list this year, although the brokerage firm has already filed prospectuses for more shells, including Ron Schmeichel's Mira IV Acquisition Corp.

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