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by Stockwatch Business Reporter

The TSX Venture Exchange added 1.48 points to 520.78 Wednesday. Danny Geremia's halted capital pool shell, Rosa Capital Inc. (RSA), has signed a definitive agreement for its acquisition by Raimount Energy Inc. (RMT: $2.25). Raimount will issue 0.1 share for each Rosa share, which values Rosa at 22.5 cents per share, based on Raimount's current price. The deal represents a meagre profit for the shell's IPO shareholders, who paid 20 cents per share in April, 2013. It is undoubtedly attractive to Rosa's escrow shareholders, however, because they will avoid losing half their positions if this qualifying transaction closes by Jan. 25, 2016. Largest among them is Mr. Geremia, with 900,000 of the shell's 3.15 million escrow shares.

None of Rosa's directors will be joining Raimount's board when the QT closes. Mr. Geremia, an accountant and one-time shell packager, is the chief financial officer of Western Canadian oil and gas explorer Insignia Energy Ltd., which was taken private by Brookfield Capital Partners Ltd. in July, 2013. Brookfield paid $1.35 in cash per share, a 95-per-cent premium for Insignia shareholders. Mr. Geremia has been the CFO or a board member of several other public companies, most recently Amarok Energy Inc., where he was a director from August, 2012, to June, 2014. Besides being a CFO, Mr. Geremia's present occupations include coaching girls' teams for the Springbank Minor Soccer Club in Calgary. His under-12 team has won two little league championships in Alberta this year. He is also the treasurer of the fundraising arm for his alma mater's football team, the University of Calgary Dinos.

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