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by Stockwatch Business Reporter

The TSX Venture Exchange added 1.31 points to 525.89 Thursday. Jeffrey Witherell's halted capital pool shell, Plymouth Realty Capital Corp. (PH), plans to acquire a 59,650-square-foot retail plaza in Mississauga, Ont., as its qualifying transaction.

The shell will pay $7.8-million for the property. It will cover the cost by taking out a $5.1-million mortgage and by selling a $3-million private placement. Desjardins Capital Markets will sell the offering. Last month, Plymouth sold a one-million-share private placement at five cents a share to two new shareholders, Philip Langridge and Brad Wise, real estate investors both. When the financing closed, Mr. Witherell said that he hoped to use Mr. Langridge and Mr. Wise's network to find a real estate QT in Canada "as soon as practically possible," and it turns out they have come as hoped. The seller of the retail plaza is Churchill IV Real Estate LP, a subsidiary of Mr. Langridge and Mr. Wise's Churchill International Property Corp.

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