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by Stockwatch Business Reporter

The TSX Venture Exchange added 4.14 points to 673.77 Thursday. David Salmon's halted capital pool shell, TLO Capital Corp. (TEE), secured approval from shareholders at a meeting yesterday to close its qualifying transaction by spending its treasury on 1.5 million units of Jamie Deith's Eagle Graphite Inc. (EGA: $0.06) at 10 cents a unit. Eagle Graphite is up from 3.5 cents last month. TLO's cost seems a hefty price, but each 10-cent unit includes one-half of a warrant; whole warrants are exercisable at 15 cents for five years. Apparently one-half of such a warrant is worth about four cents, or so Mr. Salmon thinks.

The IPO shareholders of TLO paid 10 cents a share for their position before it listed in July, 2012, and the shell has a total of 4,262,000 shares outstanding. It will soon distribute its newly acquired 1.5 million units of Eagle Graphite to shareholders of TLO such that each TLO shareholder will receive about 0.35 of an Eagle Graphite unit, worth 2.1 cents (based on today's close), for each TLO share held. After TLO distributes the Eagle Graphite shares, the shell will delist and dissolve.

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