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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 10.34 points to 799.19 Friday, but it ended the week down 19.27 points. Greg Smith's capital pool shell, Canadabis Capital Inc. (CANB), listed on the TSX-V today, after selling a $500,000 initial public offering of shares at 10 cents. Canadabis opened at 20 cents and closed at 29 cents on 185,300 shares. Its founder, Mr. Smith, is an accountant in Calgary. Since 1982, he has been the chief financial officer of a private outdoor furniture manufacturer called Maglin Site Furniture Inc. He is also a director of Arizona gold explorer Kerr Mines Inc. (KER: $0.125) and of Falcon Oil & Gas Ltd. (FO: $0.27), which has projects in Australia, South Africa and Hungary. Canadabis is his first capital pool shell.

Mr. Smith's fellow directors at the shell are Barbara O'Neill, Donald Byers, Jason Harper and Chris Pettigrew. Ms. O'Neill is the corporate secretary of Canadabis, as well as British Columbia jade promotion Manson Creek Resources Ltd. (MCK: $0.04) and B.C. gold-copper-zinc promotion Northern Abitibi Mining Corp. (NAI: $0.015). The next director, Mr. Byers, was the president of Western Canadian oil and gas explorer Manchester Resources Corp., which peaked at 90 cents on the Alberta Stock Exchange in 1987. Mr. Byers, who taught chemistry at the Northern Alberta Institute of Technology from 1970 to 2004, was also a director of biotech issuer Ceapro Inc. (CZO: $1.46) from 2001 to 2007. These days, he is a management consultant in Edmonton. The final two shell directors, Mr. Harper and Mr. Pettigrew, are first-time public company directors. Mr. Harper is a senior product manager at the Calgary office of Paysafe Group PLC, an on-line payments company based in the Isle of Man. Mr. Pettigrew is an engineer in Calgary. From 2002 to 2015, he worked at TripSpark Technologies, a developer of transportation management software.

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