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by Stockwatch Business Reporter

The TSX Venture Exchange gained 3.37 points to 800.58 Tuesday. Peter Chen has filed a preliminary prospectus to list his first capital pool shell, Inceptus Capital Ltd. The shell is selling a $300,000 to $400,000 initial public offering at 10 cents through Mackie Research Capital Corp.

Inceptus also has 2.6 million escrowed shares, which it sold at five cents in March, 2017. Mr. Chen, 55, an accountant in Richmond, B.C., holds 800,000 of the escrowed shares. He is the executive director of Proterra Management Group Inc., an accounting and management consulting firm. He is also the chief financial officer of Neil Linder's NEX shell, Gold Finder Explorations Ltd. (GFN: $0.14). Mr. Chen is a first-time shell president, but he was a director of Dr. Terrance Owen's capital pool shell, Duft Biotech Capital Ltd., which in 2003 launched Alda Pharmaceuticals Corp. (now called Vanc Pharmaceuticals Inc. (VANC: $0.245)). Mr. Chen remained the CFO and a director of Alda until 2012. Dr. Owen, who holds a PhD in zoology, left in 2014. These days, Dr. Owen and Mr. Chen are both directors of Yunji Kim's natural health supplements distributor, Eastwood Bio-Medical Canada Inc. (EBM: $0.20).

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