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by Stockwatch Business Reporter

The TSX Venture Exchange fell a fraction to 659.24 Thursday. Pat DiCapo, a Bay Street investor and shell packager, has a new capital pool shell, POCML 3 Inc. (PWR), which listed today on the TSX-V. It is the second capital pool shell to list this month, following Todd Hilditch's Riley Resources Ltd. (RLY), which arrived on the TSX-V one week ago. Dundee Securities Ltd. sold POCML 3's $300,000 initial public offering of two million shares at 15 cents.

POCML 3 has five million shares in escrow that sold at 7.5 cents. Mr. DiCapo, 40, is a founding director and the largest shareholder of the shell with four million escrow shares, which he controls through his PowerOne Capital Markets Ltd., a Toronto firm that finances and advises emerging companies. He is also a lawyer and a member of the Ontario Advisory Commitee for listings on the TSX-V, a committee that includes Toronto's busiest shell packager, Ron Schmeichel. (It is not clear what committee membership entails beyond attending quarterly meetings, but if nothing else it provides schmoozing opportunities and looks good on a biography.) POCML 3 is Mr. DiCapo's third capital pool shell. He listed his first, POCML 1 Inc., in July, 2011, with a 20-cent IPO. The following year, in October, 2012, POCML 1 closed its qualifying transaction by acquiring a graphite explorer with the Lac Gueret property in northeastern Quebec. The shell changed its name to Mason Graphite Inc. (LLG: $0.63) and resumed trading at 90 cents. Since then, it has traded between 25.5 cents and $1.08, offering IPO shareholders plenty of opportunities to sell for a profit. If an IPO shareholder continues to hold his position today, he could sell for a triple. POCML 1 was a success for Mr. DiCapo and his IPO shareholders.

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