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by Stockwatch Business Reporter

The TSX Venture Exchange gained 8.87 points to 815.56 Monday. Dan Whittaker and Wade Dawe have filed a preliminary prospectus to list their second capital pool shell, Northwest Arm Capital Inc. Haywood Securities Inc. is selling the shell's $300,000 initial public offering of three million shares at 10 cents.

Northwest Arm has 8.4 million escrowed shares, which it sold at five cents in May. Each of Mr. Whittaker and Mr. Dawe holds 3.5 million escrowed shares. Director Jim Megann holds one million escrowed shares, director Jamie Davison holds 300,000 and corporate secretary Paul Thomson holds the remaining 100,000.

Mr. Whittaker, 57, is a chartered financial analyst. Mr. Dawe, 46, is a resource stock promoter. Both men live in Halifax and are named as the co-promoters of Northwest Arm, but Mr. Dawe is neither a director nor an officer. Mr. Whittaker, on the other hand, is the chief executive officer, the chief financial officer and a director. Their first capital pool shell, Birchpoint Capital Inc., listed in March, 2006, with a $250,000 IPO of 1.25 million shares at 20 cents. Mr. Whittaker was the CEO, the CFO and a director of Birchpoint, while Mr. Dawe was the corporate secretary. They were also the two largest escrow shareholders. In October, 2006, only seven months after listing, Birchpoint split 2 for 1, closed its qualifying transaction and launched a Newfoundland uranium explorer, Ucore Uranium Inc. The QT was a profitable deal for Birchpoint's IPO shareholders. Considering the stock split, the break-even price for their investment was 10 cents a share. Ucore Uranium traded between 45 cents and $1.80 for a year after its launch and remained above 10 cents for another year. In June, 2010, long after Mr. Whittaker and Mr. Dawe had resigned as directors of Ucore Uranium, the company switched to rare earth exploration in Alaska and became Ucore Rare Metals Inc. (UCU: $0.385).

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