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by Stockwatch Business Reporter

The TSX Venture Exchange increased a fraction Thursday, closing at 808.60. Daniel Drimmer's new capital pool shell, Campar Capital Corp. (CHK), will list on the TSX-V Friday. It is the second capital pool shell to list this month and the 16th this year. By this time last year, 33 capital pool shells had already arrived on the TSX-V. Raymond James Ltd. sold Campar's $400,000 initial public offering of four million shares at 10 cents. It is the broker's third capital pool shell this year.

Last month, the shell sold 41 million shares at 10 cents for $4.1-million and 10 million escrow shares at five cents for $500,000. Including the IPO, Campar has raised a total of $5-million, the maximum amount the TSX-V allows a capital pool shell to raise before it begins trading. We discussed Mr. Drimmer and Campar in the Shell Summary for Sept. 17 after the shell filed its preliminary prospectus. To briefly summarize, Mr. Drimmer, 42, has managed real estate investment trusts since 1995 and is the second-largest shareholder of Campar with 9.9 million shares. This is his third capital pool shell in four years. His first shell, Wand Capital Corp., sold IPO shares at 10 cents before rolling back 1:8 and launching True North Apartment REIT (TN: $8.28). His second shell, Tanq Capital Corp., also sold IPO shares at 10 cents before rolling back 1:8 and launching True North Commercial REIT (TNT: $6.50). IPO shareholders of Mr. Drimmer's first two capital pool shells have done very well and as a result there was likely much competition for IPO shares in Campar. The shell's largest shareholder is Jason Underwood, another REIT promoter, who owns 11 million shares and was a director of Mr. Drimmer's first shell, Wand Capital. Campar IPO shareholders are anticipating another high-profile real estate deal from their most fruitful CEO.

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