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by Stockwatch Business Reporter

The TSX Venture Exchange added 18.72 points to 770.26 Friday, ending the week up 0.67 of a point. Shareholders of David Hodge's halted capital pool shell, Red Star Capital Ventures Inc. (RSM), will vote on the shell's qualifying transaction at a Nov. 28 meeting. The shell is proposing to spend the remainder of its treasury on five-cent units of Electra Gold Ltd. (ELT: $0.055), another Hodge company.

Red Star will spend $180,000 on 3.6 million Electra units, then distribute those units to its shareholders pro rata, after which it will delist and dissolve. Each Electra unit comprises one share and one warrant, exercisable at 10 cents for two years. Red Star has 8.15 million shares outstanding, which means shareholders will receive approximately 0.44 of an Electra unit, worth 2.2 cents, for each Red Star share held. The shell's IPO shareholders paid 10 cents for their shares before the company listed in July, 2011, so Electra will have to climb to 22.5 cents before a Red Star IPO shareholder can break even.

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