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by Stockwatch Business Reporter

The TSX Venture Exchange gained 4.85 points to 834.62 Thursday, ending the shortened trading week up 10.35 points. Shabir Premji has filed a preliminary prospectus to list his first capital pool shell, P Squared Renewables Inc. The shell is selling a $300,000 initial public offering of three million shares at 10 cents. Its IPO agent is Leede Jones Gable Inc.

P Squared has eight million escrowed shares, which it sold at five cents last month. Mr. Premji controls 4.7 million of those shares through Premji Family Trust 2017. Another one million escrowed shares are held by Faisal Premji, a lawyer in Dubai. The prospectus is silent on the relationship, if any, between Shabir Premji and Faisal Premji.

First-time shell-maker Shabir Premji, 65, is an accountant in Calgary and a former senior manager at KPMG LLP. Currently, he is the president of Platform Energy Inc., which offers advisory services to energy companies. In October, 2016, he joined the board of West Mountain Environmental Corp. (WMT: $0.025), a waste treatment company. Before this, from September, 2012, to February, 2015, he was the chief financial officer and a director of Groundstar Resources Ltd. (GSA: $0.02), an oil and gas junior with projects in Canada and Egypt, but no money. Previously, from April, 2004, to October, 2011, Mr. Premji was the executive chairman of Alberta Oilsands Inc., now a part of Marquee Energy Ltd. (MQX: $0.105). Under Mr. Premji's leadership, Alberta Oilsands peaked at $2.40 in July, 2007.

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