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Shell Summary for Oct. 24, 2014

2014-10-24 20:12 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 3.15 points to 805.45 Friday, ending the week down 4.68 points. Daniel Drimmer's new capital pool shell, Campar Capital Corp. (CHK), listed on the TSX-V today, closing at 30 cents on 1,500 shares. The shell will likely find a real estate deal for its shareholders. There are more capital pool shells on the way. Earlier this week, shell-maker Amar Bhalla filed a preliminary prospectus for his new capital pool shell, Carlaw Capital V Corp., which plans to complete an initial public offering of between $300,000 and $400,000 at 20 cents. The Vancouver office of Canaccord Genuity Corp. will handle the IPO.

Last June, Carlaw Capital V sold two million escrow shares at 10 cents. Mr. Bhalla, the shell's 37-year-old founder and president, controls 1.8 million of the escrow shares through two investment companies, Capit Investment Corp. and Cinquedea Corp. The shell packager has already listed four capital pool shells, and completed qualifying transactions for each of them. His first, Carlaw Capital Corp., went public in February, 2007, with a 20-cent IPO. In January, 2008, it acquired a uranium explorer and resumed trading at 21 cents under the name Nyah Resources Inc. The stock slipped below 20 cents the following day and continued to fall. In 2010, the company switched to coal. It rolled back 1:39.8 to become Forbes and Manhattan Coal Corp., which has since changed its name to Buffalo Coal Corp. (BUF: $0.115). The first Carlaw shell was a failure for IPO buyers.

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