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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 5.14 points to 788.38 Thursday. Steven Mintz's capital pool shell, 22 Capital Corp. (LFC: $0.10), listed today. There were no trades. The shell sold a $600,000 initial public offering of shares at 10 cents, through Industrial Alliance Securities Inc.

22 Capital is the first shell founded by Mr. Mintz, an accountant in Toronto, but he has been a shell director before. He was on the board of Cam Deacon's capital pool shell, Pounder Venture Capital Corp., which last month launched Pool Safe Inc. (POOL: $0.105), a maker of waterproof poolside safes. (The safes are meant for pool goers' cellphones, cameras, wallets and other belongings.) In connection with its launch, Pool Safe sold a private placement of subscription receipts at $3.17. Mr. Mintz bought 353,360 receipts, which converted into 9,894,080 resulting issuer shares on closing of Pounder's qualifying transaction. His adjusted cost is about 11.32 cents a share, and his $1.12-million investment is down by $81,272 today. Mr. Mintz remains a director of Pool Safe. He is also a director of drug developer Portage Biotech Inc. (PBT: $0.36) and of Canadian and Caribbean resource junior Everton Resources Inc. (EVR: $0.08).

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