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by Stockwatch Business Reporter

The TSX Venture Exchange fell 2.71 points to 692.23 Monday. Frank Taggart and David Doherty's capital pool shell, Saber Capital Corp. (SAB), added three cents to 11 cents on one trade, 100,000 shares. Mr. Taggart and Mr. Doherty acquired control of the shell in June, 2013, from founders Craig Taylor, Brian Morrison and Daniel Kokan. Since then, the new owners have sold a private placement of 5.9 million shares at five cents for $295,000, but they have yet to find a qualifying transaction.

When Saber changed hands in June, 2013, Mr. Taggart acquired 1.2 million of Saber's two million escrow shares, and Mr. Doherty acquired 600,000. They paid five cents a share, the same price the founders had paid, but the timing of this purchase was odd: Saber was approaching its 24-month QT deadline. When capital pool shells trade for two years and fail to close a QT, the exchange ships them to the NEX and cancels half the escrow position as punishment. Sure enough, four months after Mr. Taggart and Mr. Doherty bought their position, in October, 2013, Saber transferred to the NEX and half the escrow shares were cancelled, with Mr. Taggart's position decreasing to 600,000 escrow shares and Mr. Doherty's position decreasing to 300,000.

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